Generali profits slide 5.6%

Operating profits at Italian carrier Generali fell 5.6 percent
for the year-to-date to reach EUR3.6bn ($3.9bn) despite an improved
P&C underwriting performance.
Profits in the P&C segment deteriorated 3.6 percent to EUR1.5bn
in the first nine months of 2016, despite a 20 basis point
improvement in the combined ratio to 92.4 percent.
Generali said that year-to-date cat losses totalled EUR200mn, or
1.3 percentage points on the combined ratio, and included EUR10mn
related to the earthquake