MILAN – Generali’s normalized net profit increases significantly to 2.33 billion euros (+60.9%) in the first half of the year, compared to 1.448 billion in the same half of 2022. This was reported in a company press release after the board meeting chaired by Andrea Sironi , approved the consolidated half-year financial report 2023 of the Generali Group. This was mainly due to the improvement in operating profit – which highlights the benefits of diversified sources of income – and the one-off gain related to the sale of a London property complex (€193m after tax). and also reflects the impact of 97 million write-downs on Russian fixed income instruments recorded in H1 2022. Net profit rises to 2.243 billion euros, compared to 864 million in the first half of 2022.
“The excellent results of the first half of 2023 continue to demonstrate the effectiveness of our strategy ‘Lifetime Partner 24: Driving Growth’ and how Generali is increasingly profitable, diversified, resilient and operating with a solid financial position,” commented Generali CEO Philippe Donnet: “After Halfway through the implementation of the plan,” he added, “we are well on our way to meeting our ambitious goals and confirm that we have the stability to face the complex macroeconomic and geopolitical scenario that is constantly evolving, successfully manage.”