The Italian insurance group Generali is performing better than expected. The company is expecting a record result for 2024. This is according to the figures published on Thursday. 

Gross premium income rose to €95.2 billion, which is 14.9 percent higher than expected. Growth was particularly strong in the life (+19 percent) and property insurance (+7.7 percent) segments.

Net inflows in the life insurance sector amounted to €9.7 billion. According to the press release, this result was exclusively attributable to pension and unit linked insurance. The value of new business rose by 2.3 percent to €2.4 billion.

The combined ratio (CoR) remained unchanged at 94.0 percent.

Total Assets under Management Increased by over 31 Percent

The operating result continued to rise to a record level of €7.3 billion (+8.2 percent). Adjusted net income rose to €3.8 billion (+5.4 percent) – also a record figure for the group.

Total assets under management reached €863 billion (+31.6 percent).

The dividend per share is to be increased by 11.7 percent from €1.43.

«The results underline our ability to esure continous organic growth in each segment through the management measures we have taken, while successfully integrating all the companies we have acquired. The group is now the strongest position in its history,» says Philippe Donnet, CEO of the Generali Group.