Generali raises dividends after beating 2018 targets
When it got here to a possible European slowdown in 2019, nonetheless, Donnet mentioned Generali was not involved. He defined that folks sought out the options Generali offered whether or not the economic system was booming or lagging.
“Our enterprise could be very resilient, as a result of when individuals do make investments and the economic system is rising, the property and casualty enterprise is rising,” he mentioned. “However when individuals don’t make investments as a result of the economic system isn’t rising, the life insurance coverage enterprise and asset administration is rising.”
Nonetheless he famous heavy competitors in its home market, particularly with motor insurance coverage, including that it was “difficult.”
“In Italy and France, by the way in which, we needed to face crucial claims … which clearly had a big affect on the working outcome,” he added.
Donnet additionally claimed that Generali’s 59 billion euros in Italian BTPs was not a priority to traders.
“(Traders) don’t battle any extra on this — now we have demonstrated that now we have a powerful capital place. We’ve additional elevated our solvency ratio by 9 share factors, so our publicity to BTPs is not a difficulty,” he advised CNBC.
Generali has reserved as much as four billion euros for acquisitions and progress because it appears to asset administration and high-margin enterprise in Latin America and Asia.
Clarification: This story has been up to date to mirror that Donnet claimed that Generali’s 59 billion euros in Italian BTPs was not a priority to traders. The headline has additionally been modified on this story to extra precisely mirror Generali’s earnings launch.