MILAN (Reuters) -Italy’s biggest insurer Generali on Thursday reported double-digit profit growth for the first nine months, helped by its non-life business amid lower natural catastrophe claims.
Operating profit, the figure most closely watched by the market, rose 10.1% to 5.9 billion euros ($6.9 billion). Adjusted net result was 3.3 billion euros, up 14%. Both figures were broadly in line with a company-provided analyst consensus.
“After two years of significant Nat Cat experience, 2025 was benign so far,” Generali’s head of finance Cristiano Borean said in a statement.
Borean said the natural catastrophe claims in the first nine months totalled 573 million euros, just over half of the full year budget for such claims, a development the company used to strengthen its balance sheet in a bid to exceed the targets of its three-year plan.
($1 = 0.8575 euros)
(Reporting by Gianluca Semeraro, editing by Valentina Za)
