Generali Group has posted a consolidated operating result of €3.72bn for the first half of 2024 (H1 2024), a 1.6% increase compared to €3.66bn for the same period of the previous year.
In the previous six months, H2 2023, the Italian insurance and asset management provider, reported a consolidated operating result of €6.9bn.
The company’s gross written premiums for the reported period that ended 30 June 2024 was €50.14bn, 20.4% higher compared to €42.24bn in the corresponding six months of the previous year.
In H1 2024, Generali Group had adjusted earnings per share (EPS) of €1.31, a decline of 13.3% compared to €1.51 in the prior year.
The operating result of Generali Group’s Life segment increased 7.8% to €1.95bn in the first six months of 2024 compared to €1.81bn in H1 2023.
Generali Group’s P&C segment reported an operating result of €1.73bn in the given period, a 6.7% low compared to €1.85bn in the first six months of the prior year.
The decline was attributed to the greater impact of natural catastrophes and a lower benefit from discounting.
The Italian insurance and asset management provider’s asset and wealth management unit grew to €566m in H1 2024, an increase of 19.4%, compared to €474m in H1 2023.
Generali Group’s total assets under management (AUM) also grew to €821bn, a 25.2% increase compared to €655bn H1 2023.
Generali Group CEO Philippe Donnet said: “With continued operating result growth and the return to strong positive Life net inflows, our results confirm the resilience of Generali, the effectiveness of our strategy and our ability to deliver value for all stakeholders also in a complex macroeconomic and geopolitical context.
“We are evolving as a global insurance and asset management player with an increasingly diversified business profile.”
