Generali Group achieved record business results

Generali Group has just announced positive business results with profits up to 5.2 billion euros and gross fee revenue reaching 70.7 billion euros.

Generali is one of the largest insurance and wealth management groups in the world. Founded in 1831, Generali is currently present in 50 countries and will reach € 70.7 billion in premium revenue by 2020

Accordingly, operating profit amounted to € 5.2 billion (up 0.3%), supported by profit growth in the non-life insurance, asset management and profit margins. Parent company and other business activities.

Gross premium revenue reached € 70.7 billion (+ 0.5% y / y), coming from a steady stream of profitable non-life insurance, and high-quality cash flow from the life insurance segment 12, 1 billion Euro. The combined rate was 89.1%, the best on the market, while the rate of return on new mining revenue amounted to 3.94%.

Generali kicked off a series of activities celebrating its 190th anniversary with the Fenice 190 initiative – a plan to invest 3.5 billion euros to support the economic recovery after Covid-19.

Net profit reached € 1,744 million, affected by the depreciation of investments in the first half of the year. Excluding the cost of contribution to Special International Fund for Covid-19 and debt management transaction, net profit after cashew is 2.076 million Euro.

Strong financial position is confirmed by the solvency margin continuing to remain high at 224%, benefiting from the results of the capital optimization strategy of VND 4 billion. Euro. The proposed dividend per share is 1.47 Euro.

As a member of Generali Group, Generali Vietnam has had strong growth after a decade of operation with more than 70 General Agents (GenCasa) and Customer Service Centers nationwide.

Generali Group CEO Philippe Donnet said: “We are pleased to announce the outstanding business results we have achieved in an unprecedented context caused by the pandemic. affirms Generali’s strong position when compared to other companies in the same industry, both professionally and financially. For the second year in a row, we have made a profit from the high-end business. and, combined with the growth of dividends, Generali continues to create more value for all of its stakeholders. “

In Vietnam, Generali has grown rapidly with an extensive network of operations, superior products and services, and outstanding customer experience with the R-NPS index measuring the overall customer satisfaction at the top of the market. insurance school

“We have entered the final year of the implementation of the” Generali 2021 “strategic plan and are well-positioned to achieve all of the planned goals of this strategic plan. new organizational structure ensures not only the success of this plan, but also helps Generali prepare for the next strategic cycle Generali also accelerates business transformation, fosters cross-channel integration. Traditional distribution and digital channels, coupled with the innovative spirit of our staff and insurance consultants, this combined model will help us reach and serve our customers better than ever. over”.

“Finally, I am very proud that in such a challenging context, Generali has taken timely actions such as the implementation of the Special International Fund and many initiatives that have a positive and widespread impact. to support the communities and localities where we operate “, said Philippe Donnet.