Generali Versicherungen, a provider of financial services in the German market, has reported a growth of 5.3% in the net profit for the third quarter of 2007.
In the first nine months of the year, gross premiums written rose by 0.6% to E826 million, while the market of life insurance business in the narrower sense grew by 0.%. The increase in terms of regular premiums was 4.6%.
Contrary to the negative market trend, the gross premium income witnessed a positive development. It rose by 3.1%, compared to the first nine months of 2006, to E813.4 million.
Wilhelm Kittel, CEO of Generali Versicherungen said that there is an excellent growth of 13.8% in the life new business in terms of regular annual premiums and of 3.1% in the property and casualty business. Generali Versicherungen are thus again better than the market and can expect a considerable increase of the net profit for the full year.