Generali Nine-Month Net Profit Falls on One-Off Charge

By Pietro LombardiFeaturesDow Jones Newswires

Italian insurer Assicurazioni Generali SpA (G.MI) said on Thursday that net profit declined in the first nine months of the year, hit by an extraordinary loss on the sale of its Dutch business.

The company's net profit declined 9.9% on year to 1.46 billion euros ($1.69 billion).

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Stripping off the EUR253 million loss on the Dutch disposal, the company's net profit grew by 7.2% to EUR1.9 billion, Generali said.

Operating income and gross written premiums were roughly stable year on year, at EUR3.62 billion and EUR51.64 billion respectively.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

November 09, 2017 02:16 ET (07:16 GMT)