Assicurazioni Generali SpA on Tuesday posted results for the full year that beat expectations, and raised its dividend, citing continuous earnings growth and a strong capital position.
The Italian insurer
reported net profit of 2.91 billion euros ($2.12 billion) in 2022, up from EUR2.85 billion in 2021, beating consensus expectations that had it at EUR2.81 billion.
The operating result was EUR6.51 billion for the year, up from EUR5.85 billion the year prior, also beating analysts’ expectations of EUR6.19 billion. Gross written premiums for the year came to EUR81.54 billion, up from EUR75.83 billion the year prior, and against consensus expectations that had them at EUR81.26 billion.
Generali said it would propose a dividend of EUR1.16 a share at the next annual general meeting, representing a 8.4% increase on the previous year.
The insurer’s solvency ratio in 2022 was 221%, compared with 227% in 2021, while the combined ratio rose to 93.2% in 2022 from 90.8% the year prior, Generali said.
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