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Assicurazioni Generali SpA (G.MI) said Wednesday that its net profit for the first six months of the year rose, supported by improving performances across its business segments.
The Italian insurer's net profit for the period rose 8.8% on year to 1.33 billion euros ($1.56 billion). This is "one of the highest half-year net profits ever," Chief Executive Philippe Donnet said.
Operating income rose to EUR2.53 billion from EUR2.47 billion a year earlier, with its property and casualty, and life segments reporting growing operating results.
"The Group will continue to rebalance the portfolio in the Life segment with the goal of optimizing its profitability and allowing capital to be allocated more efficiently," Generali said.
Late Tuesday, the insurer said Chief Financial Officer Luigi Lubelli will leave the company and will be replaced by Cristiano Borean as of September 1. Mr. Borean, currently CFO of Generali France, will also join the Group Management Committee. The insurer also announced some changes to its organization structure that will take effect in September.
The Italian insurer's net profit for the period rose 8.8% on year to 1.33 billion euros ($1.56 billion). This is "one of the highest half-year net profits ever," Chief Executive Philippe Donnet said.
Operating income rose to EUR2.53 billion from EUR2.47 billion a year earlier, with its property and casualty, and life segments reporting growing operating results.
"The Group will continue to rebalance the portfolio in the Life segment with the goal of optimizing its profitability and allowing capital to be allocated more efficiently," Generali said.
Late Tuesday, the insurer said Chief Financial Officer Luigi Lubelli will leave the company and will be replaced by Cristiano Borean as of September 1. Mr. Borean, currently CFO of Generali France, will also join the Group Management Committee. The insurer also announced some changes to its organization structure that will take effect in September.
