Report
Benoit Valleaux

Generali : Favourable operational trends

>Slight growth in premiums - Generali is due to report its H1 2019 results on Thursday 1 August before trading. We expect gross written premiums of € 35,683m in H1 2019, up 1.7%e relative to H1 2018 (vs the consensus forecast of +3.2%e) but the reported increase is likely to be penalised by changes in scope. We believe that in life insurance the group will continue to focus on profitability rather than growth in volumes, and we expect a high new business margin in the...
Underlying
Assicurazioni Generali S.p.A.

Assicurazioni Generali is the parent company for The Generali Group (the Group), an insurance and financial services provider. The commercial offer is composed of savings and pure risks policies, which constitute the majority of the portfolio, which includes protection and pension funds. In the non-life sector the Group is focused primarily on the retail market. In addition, through the Europ Assistance Group, Co. is engaged in services in motor, travel, health, home and family. The Group has also expanded its business from insurance to a range of asset management, property and financial services.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Benoit Valleaux

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