Italy's Generali insurance group
closed the first half of the year with a net profit of 1.17
billion euros, down 9.9% over the same period in 2015 as a
result of adverse financial market conditions.
The group's operating result for the period January-June
stood at 2.5 billion euros, down 10.5% over the previous year.
Premiums fell by 2.1% to 37 billion euros, with 1.3% growth
in the property and casualty sector offset by a 3.5% drop in
life insurance premiums reportedly due to ongoing volatility in
the equity markets.
However, overall the results were above analysts'
expectations.
On Friday morning Generali shares rose by 9% on the Milan
stock exchange after being readmitted to trading following a
brief suspension due to excess volatility.
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