However, the company said its third-quarter net profit was down 18.2% at €420m (£298m, $456m) as market volatility caused losses on its investments, but it still expected full-year earnings to be well above last year’s.
“We’re counting on a good fourth quarter and are confident that the full-year profit will be significantly higher than last year,” chief executive Mario Greco said on a conference call.
In its life business Generali said collected premiums minus outflows for maturities and surrenders rose by 20.6% in the first nine months of 2015. This was due to a strong performance in Italy, which accounted for nearly half of all net inflows, along with France and Germany. That performance offset a decline in single premium products in Ireland and a weaker performance in Austria.
The company said it also witnessed 44.7% rise in net premiums from Asia.
Generali’s gross written premiums were up 5.1% to €54.2bn in the first nine months of 2015, compared with €51.2bn in the first nine months of 2014.
“In the current macro-economic scenario, still facing unstable markets and low interest rates, the premium income and operating results of the Group have been constantly growing,” Generali said in a statement.
The company said it also plans to expand in Europe by adding fee-generating products and commercial partnerships as part of a four-year plan to increase cash flow.
