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Generali commits to deliver on targets to 2024 after 9-month beat

Randy Mancini 13 Nov 10

MILAN (Reuters) – Italy’s top insurer Assicurazioni Generali said on Thursday it beat estimates with its 9-month results and confirmed its commitment to deliver on all targets of its business plan to 2024.

Net profit came in at 2.23 billion euros ($2.24 billion), down 0.8% from a year ago, due to impairments on Russian investments of 141 million euros. The profit was above an analyst consensus provided by the company at 2.05 billion euros.

Net operating profit, a figure most closely watched by the market, grew 7.8% from a year ago, as higher interest rates boosted life business.

($1 = 0.9971 euros)

(Reporting by Gianluca Semeraro, editing by Agnieszka Flak)

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