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Generali earnings beat expectations, CEO says investors 'fully trust' ability to deliver on strategy

  • Generali's operating profit in the life segment slipped by almost 3 percent in the first six months of the year, while its non-life business rose 0.7 percent.
  • When asked Wednesday whether Generali had found a potential buyer for Generali Leben, CEO Philippe Donnet told CNBC that the company was considering "different options."

Europe's third largest insurer, Generali, reported better-than-expected earnings on Wednesday, supported by an uptick in performance from its non-life business.

Here are some of the highlights from the earnings:

  • H1 operating profit of 2.59 billion euros ($3.1 billion), versus 2.51 billion euros expected by an analyst forecast by the company.
  • Economic solvency ratio stood at 207 percent, up from 194 percent in 2016
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Pier Marco Tacca | Getty Images

"They are solid and good results ... Entirely due to the improvement of our industrial performance," Philippe Donnet, chief executive officer at Generali, told CNBC on Wednesday.

"I am convinced the investors fully trust our ability to deliver our strategy successfully, which has been recognized by the market as the right strategy for us," he added.

Generali's operating profit in the life segment slipped by almost 3 percent in the first six months of the year, while its non-life business rose 0.7 percent. The firm said its economic solvency ratio - a measure of financial strength - stood at 207 percent, up from 194 percent in 2016.

Generali Leben decision due before 2018

Last month, Reuters reported, citing sources close to the matter, that Generali's German life insurance business, Generali Leben, had been put up for sale as the firm sought to restructure its European footprint.

When asked Wednesday whether Generali had found a potential buyer for Generali Leben, Donnet told CNBC that the company was considering "different options."

"We could decide to manage ourselves, we could decide to sell the portfolio ... We are still considering these options and we will make the decision before the end of the year," he added.