Generali 2020 P&C profits up 19% to EUR2.5bn as lockdowns cut claims
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Generali 2020 P&C profits up 19% to EUR2.5bn as lockdowns cut claims

Samuel Casey
11 March 2021
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Generali reported an above-forecast 19% increase in operating profit to EUR2.5bn ($2.9bn) in its P&C segment in 2020 after the carrier improved technical profitability and benefited from the positive contribution of new acquisition Seguradoras Unidas in Portugal.

The carrier said an improved attritional loss ratio helped drive profits, thanks to the effects of lockdowns in the countries in which Generali operates.

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Samuel Casey
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