Generali beats 2018 targets despite ‘challenging’ Italian market, raises dividend

“But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.” Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia. Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Ital


“But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.” Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia. Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Ital
Generali beats 2018 targets despite ‘challenging’ Italian market, raises dividend Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: reuters with cnbccom, pier marco tacca, getty images
Keywords: news, cnbc, companies, management, euros, despite, 2018, generalis, growing, targets, dividend, billion, market, business, beats, reflect, raises, generali, challenging, btps, economy, italian


Generali beats 2018 targets despite 'challenging' Italian market, raises dividend

Europe’s third-largest insurer said it would pay a dividend of 0.90 euros per share, up from the previous year’s 0.85 euros.

When it came to a potential European slowdown in 2019, however, Donnet said Generali was not concerned. He explained that people sought out the solutions Generali provided whether the economy was booming or lagging.

“Our business is very resilient, because when people do invest and the economy is growing, the property and casualty business is growing,” he said. “But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.”

However he noted heavy competition in its domestic market, especially with motor insurance, adding that it was “challenging.”

“In Italy and France, by the way, we had to face very important claims … which obviously had a significant impact on the operating result,” he added.

Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors.

“(Investors) do not struggle any more on this — we have demonstrated that we have a strong capital position. We have further increased our solvency ratio by 9 percentage points, so our exposure to BTPs is no longer an issue,” he told CNBC.

Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia.

Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. The headline has also been changed on this story to more accurately reflect Generali’s earnings release.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: reuters with cnbccom, pier marco tacca, getty images
Keywords: news, cnbc, companies, management, euros, despite, 2018, generalis, growing, targets, dividend, billion, market, business, beats, reflect, raises, generali, challenging, btps, economy, italian


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Generali first-half profit beats expectations after being boosted by asset disposals

Italy’s top insurer Assicurazioni Generali said on Wednesday its net profit in the first half rose 8.8 percent to beat expectations, boosted by disposals. Europe’s third largest insurer said it expected to raise more than 1.5 billion euros ($1.75 billion) from asset disposals carried out, above a target of 1.0 billion euros. Net profits in the period came in at 1.329 billion euros, above an analyst forecast provided by the company of 1.286 billion euros.


Italy’s top insurer Assicurazioni Generali said on Wednesday its net profit in the first half rose 8.8 percent to beat expectations, boosted by disposals. Europe’s third largest insurer said it expected to raise more than 1.5 billion euros ($1.75 billion) from asset disposals carried out, above a target of 1.0 billion euros. Net profits in the period came in at 1.329 billion euros, above an analyst forecast provided by the company of 1.286 billion euros.
Generali first-half profit beats expectations after being boosted by asset disposals Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-01
Keywords: news, cnbc, companies, euros, beats, asset, boosted, target, firsthalf, rose, period, raise, profits, profit, disposals, expectations, insurer, provided, generali, billion


Generali first-half profit beats expectations after being boosted by asset disposals

Italy’s top insurer Assicurazioni Generali said on Wednesday its net profit in the first half rose 8.8 percent to beat expectations, boosted by disposals.

Europe’s third largest insurer said it expected to raise more than 1.5 billion euros ($1.75 billion) from asset disposals carried out, above a target of 1.0 billion euros.

Net profits in the period came in at 1.329 billion euros, above an analyst forecast provided by the company of 1.286 billion euros.


Company: cnbc, Activity: cnbc, Date: 2018-08-01
Keywords: news, cnbc, companies, euros, beats, asset, boosted, target, firsthalf, rose, period, raise, profits, profit, disposals, expectations, insurer, provided, generali, billion


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European equities higher on earnings; Generali up 1.5%; H&M down 4.8%

Lufthansa said Thursday that higher fuel prices are set to impact its earnings in 2018, which sent the stock 1.4 percent lower in early trade. H&M missed market expectations once again by reporting lower sales in the first quarter. Meanwhile, President Donald Trump has chosen a new economic advisor — economist and senior CNBC contributor Larry Kudlow. In terms of data, the IEA said in its latest oil market report that Venezuela is likely to remain the biggest risk factor among leading oil produc


Lufthansa said Thursday that higher fuel prices are set to impact its earnings in 2018, which sent the stock 1.4 percent lower in early trade. H&M missed market expectations once again by reporting lower sales in the first quarter. Meanwhile, President Donald Trump has chosen a new economic advisor — economist and senior CNBC contributor Larry Kudlow. In terms of data, the IEA said in its latest oil market report that Venezuela is likely to remain the biggest risk factor among leading oil produc
European equities higher on earnings; Generali up 1.5%; H&M down 4.8% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-15  Authors: silvia amaro
Keywords: news, cnbc, companies, biggest, generali, earnings, market, equities, kudlow, hm, oil, stock, 48, trade, wants, 15, lower, european, higher, uk


European equities higher on earnings; Generali up 1.5%; H&M down 4.8%

Lufthansa said Thursday that higher fuel prices are set to impact its earnings in 2018, which sent the stock 1.4 percent lower in early trade. But it has recovered since then, trading above the flatline.

H&M missed market expectations once again by reporting lower sales in the first quarter. The stock was off by more than 4.5 percent.

Meanwhile, Societe Generale announced that Didier Valet, deputy chief of investment banking activities, left the bank “following a divergence of approaches regarding management of a specific legal matter,” Reuters reported. The bank’s shares were off by 2.3 percent.

During Asian trade, equities were mixed after reports that the White House wants China to reduce its trade surplus with the United States by $100 billion. Meanwhile, President Donald Trump has chosen a new economic advisor — economist and senior CNBC contributor Larry Kudlow. Kudlow told CNBC Wednesday that a “great country needed a strong currency.”

In terms of data, the IEA said in its latest oil market report that Venezuela is likely to remain the biggest risk factor among leading oil producers.

Investors are also keeping an eye on politics after the U.K. decided to expel 23 Russian diplomats — the biggest expulsion since the Cold War. Russia has said it wants the U.K. to prove that Moscow was involved in a nerve agent attack on a former spy in U.K. territory.


Company: cnbc, Activity: cnbc, Date: 2018-03-15  Authors: silvia amaro
Keywords: news, cnbc, companies, biggest, generali, earnings, market, equities, kudlow, hm, oil, stock, 48, trade, wants, 15, lower, european, higher, uk


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