2012, a difficult year for Generali

Generali has posted disappointing results for 2012, with its net profit dwindling down by 89.5% at 90 million EUR (119 million USD). The substantial depreciation of assets and its participation in Telecom Italia through the Telco holding in which it detains a 30.6% stake account for the bad results.

In total, asset depreciations amounted to 1.682 billion EUR (2.223 billion USD), 1.271 billion EUR (1.680 billion USD) of which were achieved in the fourth quarter of 2012. The operating result yielded a profit of 4.219 billion EUR (5.576 billion USD), up by 10.5%. The group's turnover grew by 3.2% at 69.613 billion EUR (92 billion USD). Generali is expecting an increase of the operating income and a consolidation of its share capital in 2013.