Generali Q1 Net Profit Increases

Italian company Assicurazioni Generali SpA – ADR ARZGY reported a 3.3 percent gain in its net profit for the first quarter. Generali's quarterly profit surged to 682 million euros ($768.7 million), versus a year-ago profit of EUR660 million. Operating profit at its life insurance business climbed 8.2 percent to EUR823 million, while operating profit at its non-life business declined 4.6 percent to EUR505 million. Generali's operating income gained 6 percent to EUR1.3 billion. Net earned premiums increased to 17.57 billion euros, versus 15.50 billion euros in the previous year.