General: in I quarter 2015 operating profit growth – AGI – Agenzia Journalistic Italy

08:44 May 14, 2015

Interim Report 31 March 2015 .First quarter shows strong profitability ‘operations, a further increase, and a great increase in earned complessivaRisultato operations growth of 6% and reached €’ 1.3 billion, recording the best figure of the last seven years, with a sharp increase in the segment Life (+ 8.2%) exceed EUR Awards’ 20 bn (+ 8.3%) driven by the life business (+ 12.7%), driven by significant growth in unit-linked products, which reached 24.5% of life premiums. Stable collection danniNuova production in terms of APE in euro ’1,429,000 (+ 9.8%), supported by unit-linked products (+ 39.8%) High profitability’ technical damage with combined ratio to 93.3% (92, 5% 1Q14), despite the increased impact of disasters by 1.3 pp Net profit up to EUR ’682 mln (+ 3.3%) Solvency I to 168%; the index pro-forma ‘understanding of the effects of the sale of BSI’ and ‘equal to 177% (164% at the end of 2014). Growth in equity, which exceeds € ’26 billion (+ 12.5%) The Group CFO of General, Alberto Minali, commented: “We close the first quarter with particularly significant results in all segments of our business , as much in premiums as in profitability ‘. These results demonstrate the effectiveness of actions taken in implementing the turnaround plan concluded with a year in advance. We have improved the quality’ of our offer, with products of high added value for the customer and we have renovated, where necessary, the Group portfolio, helping to focus the business of General on the activities’ core. on this solid base that we are preparing to present future strategies of Generali on May 27 “14/05 / 2015 – Milan. The Board of Directors of Assicurazioni Generali, chaired by GabrieleGalateri di Genola, today approved the consolidated results as at 31 March 2015.Executive SummaryGenerali ended the first quarter with operating results in growth and an acceleration of produzione.Nonostante scenario macro- still uncertain economic and interest rates at historic lows, the Group, thanks to the continuous implementation of strategic initiatives and the favorable performance of financial markets, has achieved an operating profit of EUR ’1.3 billion (+ 6.0%; euro’ 1.2 billion 1Q14). A push operating performance and ‘was in particular the life segment, with operating profit rising to EUR’ 823 million (+ 8.2%) thanks to the profitability ‘of the collection and the excellent management finanziaria.Nel damage, the operating result It amounted to EUR ’505 million, down by EUR’ 24 million (-4.6%), due to the higher impact of catastrophe claims in Italy and Central Europe (Germany and Austria) to approximately EUR ’70 milioni.L’ Net profit reaches EUR ’682 million (EUR’ 660 mln 1Q14; + 3.3%); without considering the one-off effect resulting from discontinued operations, the result shows an increase of 10%. Thanks to the business initiatives launched in the last year and the strength of its distribution model, the Group recorded a strong growth in the quarter of total premiums in euro ’20.1 billion (+ 8.3%; euro’ 18.4 bn 1Q14 ). A push collection and ‘in particular the life business (+ 12.7%) with strong growth in all major markets – Italy (+ 30.9%), Germany (+ 9%), France (+13.3 %) and CEE (+ 6.5%) – thanks to the excellent performance of unit-linked policies (+ 24.6%). Stable collection in damage to euro ’6.5 billion, with a positive performance of the attivita’ no auto.Lo business development and ‘accompanied by high profitability’ of both segments. In life, the new business value (NBV) and ‘amounting to EUR’ 322 million, with high margins (NBM) to 22.5% (25.2% 1Q14). In damages, the profitability ‘technique keeps the levels of last year with a combined ratio of 93.3% (+0.7 pp), despite the greater impact of catastrophic events on the financial markets of 1.3 ppL’andamento first quarter brought a further strengthening of the Group’s assets, with a Solvency I ratio to 168% (+12 pp; 156% 31.12.2014). Taking into account the sale of BSI, the ratio pro forma and ‘equal to 177% .The Group equity rose to EUR’ 26.1 billion (+ 12.5%) compared to EUR ’23.2 billion at 31 December 2014.OutlookIn a macroeconomic environment that provides a recovery in GDP growth in the advanced economies but marked by interest rates at historic lows, the trend in the Group’s life will continue ‘to reflect a careful underwriting policy and a greater focus on products with low capital absorption and more ‘high value. Therefore continue initiatives aimed at enhancing the in-force portfolio and the selective development of some business lines, such as lines and pure risk products unit linked.Nei disease and non-life business, the Group will continue ‘the implementation of the measures put in place in terms of underwriting policy and management sinistri.In presence of a macroeconomic still uncertain and in line with its strategic objectives, the Group will continue in 2015 ‘to take all those actions aimed at improving the overall operating result. SF.