MILAN, July 31 Generali posted a 20.4
percent increase in operating profit in the second quarter of
the year, helped by a shift towards higher-margin insurance
products and a surprisingly strong performance in crisis-hit
The second quarter marks the end of an intense phase of
disposals that have helped Generali boost its capital base. From
now on, Italy's biggest insurer is expected to fully focus on
its operating performance.
In a statement on Thursday, Generali said its operating
profit had risen to 1.253 billion euros ($1.68 billion) in the
quarter, against 1.040 billion euros for the same period a year
The company, Europe's third-largest insurer by market value,
said its closely-watched Solvency I ratio stood at 162 percent
at the end of June, reaching a year ahead of time a self-imposed
target of 160 percent.
Generali's net profit, affected by several one-off events,
fell however 13 percent to 416 million euros.
($1 = 0.7465 Euros)
(Reporting by Lisa Jucca)