The group achieved its highest ever full-year operating profit of €4.83bn and announced plans to raise dividends and push forward additional cost cuts.
The company stressed that there was no threat of a takeover from abroad or in Italy.
Life
Total gross written premiums fell by 3.9% to €70.5bn (£61.4bn, €47.9bn), weighed down by a 6.3% decrease in the Life segment that was partially offset by a 2.1% increase in Property and Casualty (P&C).
Life net inflows passed €12bn, a decrease of 18.5%, but still above the five-year average. The insurer attributed the drop to the record level of inflows the previous year.
Despite the declines, group chief executive Philippe Donnet remained upbeat: “In Life, the net inflows are very strong, with high margins thanks to a successful focus on the business mix.”
New business value (NBV) in the life segment was up 14.6%, with a new business margin (NBM) of 25.9%.
Operating result
Generali reported the Life segment’s operating result rose by 5.5% to €3.1bn despite recording a 35.7% decline in Asia and 5.2% drop across the Americas.
The declines were offset by strong growth across EMEA and Central & Eastern Europe (CEE).
