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Generali posts rising nine-month profit despite 1.5 billion euro disaster hit - Finance news and analysis from Global Banking & Finance Review
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Generali posts rising nine-month profit despite 1.5 billion euro disaster hit

Published by Global Banking & Finance Review

Posted on November 13, 2026

1 min read

· Last updated: November 13, 2026

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Generali Achieves Nine-Month Profit Growth Despite €1.5 Billion Catastrophe Hit

Generali's Financial Performance and Impact of Catastrophes

Overview of Nine-Month Results

MILAN, Nov 13 (Reuters) - Italy's top insurer Generali on Friday reported rising nine-month results despite a €1.5 billion hit from natural catastrophes and said it was on track to exceed all targets in its three-year plan ending in 2027. 

Operating Profit and Net Profit Growth

Operating profit, the figure most closely watched by the market, rose 8.5% to €6.45 billion in the first nine months of the year. Adjusted net profit was up 12% to €3.7 billion compared to the previous year. Both were broadly in line with a company-provided analyst consensus.

Impact on Non-Life Business and Combined Ratio

The group's non-life business was hit by natural catastrophes and man-made losses, which worsened the undiscounted combined ratio - an insurance industry measure of underwriting profitability - by 0.9 percentage points to 95.1%, compared with a consensus forecast of 94.8%.

(Reporting by Gianluca Semeraro, editing by Giulia Segreti)

Key Takeaways

  • Solid operating performance: Operating profit up 8.5% to €6.45 bn, adjusted net profit up 12% to €3.7 bn, in line with analyst consensus. (generali.com)
  • Underwriting pressure: Natural catastrophes and man-made losses worsened the undiscounted combined ratio by 0.9 p.p. to 95.1%, slightly above the forecast of 94.8%. (generali.com)
  • Strategic momentum intact: Generali remains on track to exceed all targets of its three-year “Lifetime Partner 27: Driving Excellence” plan through 2027, which aims for an 8–10% EPS CAGR, over €11 bn in cumulative net cash flows, over €7 bn in dividends and at least €1.5 bn in share buybacks. (generali.com)

References

Frequently Asked Questions

How much did Generali's operating profit increase in the first nine months?
Generali's operating profit rose 8.5% to €6.45 billion in the first nine months of the year.
What was the impact of natural catastrophes on Generali's profits?
Natural catastrophes caused a €1.5 billion hit, affecting the non-life business and worsening the combined ratio.
Did Generali meet analyst expectations for its nine-month results?
Yes, both operating profit and adjusted net profit were broadly in line with the company-provided analyst consensus.
Is Generali on track to meet its three-year plan targets?
Generali stated that it is on track to exceed all targets in its three-year plan ending in 2027.
How did Generali's non-life combined ratio change?
The combined ratio worsened by 0.9 percentage points to 95.1%, compared to a consensus forecast of 94.8%.

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