Italian insurer Assicurazioni Generali reported first quarter earnings that beat expectations on Friday, results which the group's chief executive called "solid" as restructuring starts to pay off.
The third-largest insurer in Europe reported an increase in net profit to 603 million euros ($786.5 million), up 6.3 percent from a year ago. Analysts polled by the group had expected a net profit of 528 million euros. A Dow Jones poll put the forecast at 550 million euros.
"We're proud. We think the numbers are solid and good, and are going in the right direction," Chief executive Mario Greco told CNBC on Friday.
Greco said the group had recorded its best operating result in the last four years, thanks to an excellent P&C (property & casualty) performance.