Generali H1 profit down 9.9% at 1.17 bn

(ANSA) - Milan, July 29 - 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.