Generali Group

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          Performance by segment

          The Life premiums increased by 4.5% to € 48,260 million thanks to the growth of the protection line and savings and pension line. New business in terms of present value of new business premiums (PVNBP) amounted to € 45,664 million (+10.1%). The profitability of new business margin (margin on PVNBP) fell by 0.49 pps, to 3.89% (4.35% at 31 Dec. 2018). The total new business value (NBV) decreased by 2.2% and stood at € 1,777 million (€ 1,877 mln in 2018). The operating result of the Life segment stood at € 3,129 million, up 2% compared to € 3,607 million at year-end 2018, thanks to the positive development of the technical margin and investment result.

          Life Segment: 2019 results
          Life Segment: 2019 results
          Life Segment: 2019 results
          Life Segment: 2019 results
          Life Segment: 2019 results

          P&C premiums continued the growth observed during 2019, standing at € 21, 526 million, up 3.9% thanks to positive performance of both business lines. The operating result of the P&C segment amounted to € 2,057 million (€ 1,992 million at 31 December 2018), up 3.3% following growth on the technical result. The improved Group combined ratio (92.6%; -0.4 pps compared to 31 December 2018) was entirely attributable to the trend of the loss ratio, only partially offset by the rising costs rate.

          P&C segment: 2019 results
          P&C segment: 2019 results
          P&C segment: 2019 results
          P&C segment: 2019 results

          The Asset Management segment includes the activities exercised by the Asset Management companies operating within the Generali Group.
          The operating result of the Asset Management segment stood at € 425 million, up by 27%. This performance was largely due to the increase in operating revenues, due to the good performance of the market as a whole, to the consolidation of revenues of the new multi-boutiques which saw an increase particularly in the third-party client component, and to the transact fees realized by the company engaged in real estate following the sale of property assets.

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