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Generali operating result rises 11.2% in first half 2026

Gross written premiums increased 5.8% to €53.4 billion, while the P&C combined ratio slipped to 91.5% as natural catastrophe losses raised the loss ratio.

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Italian insurer Generali reported an 11.2% increase in consolidated operating result to €4.5 billion for the first half of 2026, citing growth across its insurance, life, and property and casualty business segments, according to Reinsurance News.

Generali said its adjusted net result rose 13.7% to €2.54 billion, and its net result also reached €2.54 billion, up 17.9% year over year. Gross written premiums grew 5.8% to €53.4 billion, supported by balanced expansion in both property and casualty and life business lines.

In property and casualty, gross written premiums increased 6.3% to €20 billion. The P&C operating result rose 4.7% to €2.14 billion, but the combined ratio deteriorated slightly by 0.5 percentage points to 91.5%, with the increase driven primarily by higher undiscounted natural catastrophe losses.

Generali added that life operating result rose 8.8% to €2.19 billion, with life net inflows totaling a record €8.3 billion in the first half, up 33.9%. New business value increased 21.1% to €1.89 billion, while the asset and wealth management segment lifted its operating result 31.3% to €735 million, aided by higher average assets under management and stronger performance fee generation at Banca Generali.

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