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International

Generali posts 10.5% drop in operating profit in H1

August 01, 2016 Reprints

Ialian insurer Assicurazioni Generali S.p.A.'s operating profit decreased 10.5% in the first half of 2016, Reuters reports.

Generali said that its earnings before interest and tax totaled €2.49 bill

ion ($2.75 billion) during the period.

The insurer's premium volume fell by 2% to €37 billion in the first half.

Generali CEO Philippe Donnet said that the insurer would rebalance its portfolio, concentrating on businesses that absorbs less capital and liquidity.

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Generali posts 10.5% drop in operating profit in H1

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