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Generali 9-mth profits beat consensus on strong life, asset management segments -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: On November 5, 2018, the Generali logo was seen in Milan’s CityLife area, Italy. REUTERS/Stefano Rellandini

MILANO (Reuters), Nine months of results for Italy’s largest insurer Generali (MI) exceeded market expectations. This was due to the contributions from life and asset management segments. Non-life business also proved resilient despite greater natural disaster claims.

The net profit increased 74% to 2.25 Billion Euros ($2.60 Billion), which is higher than the 2.13 billion euro average predicted by analysts.

Operating profit rose by 10% to 4.44 billion euros, which is the most highly watched figure in the market.

Generali has a solid foundation to complete its 2021 strategic plan, according to a Thursday statement.

($1 = 0.8648 euros)

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