2016 Annual Report of Generali CEE Holding has been released!

Annual Report of Generali CEE Holding FY2016 has been just published. The recent Annual Reports are stored in Annual Reports section.

Besides the 2016 financial figures and economic and insurance market development, read a statement from Chairman of Generali CEE Holding Valter Trevisani and CEO of Generali CEE Holding Luciano Cirinà about the CEE operations in 2016:

2016 was a good year for the insurance markets in the CEE region: the total business volumes increased thanks to the positive development of the Non-Life segment observed throughout the region, driven also by double-digit growth reported in almost all of the countries in the new cars registrations. On the other hand, Life premiums decreased mainly as a consequence of the pressure on Single premiums products in big markets like the Czech Republic and Poland. We observed an important turnaround in the Polish Motor market, where the average premium started to rise again after a long period, and this trend also gives a positive outlook in terms of profitability. Despite the persistent turmoil in the financial markets, we have managed to increase our regional profitability thanks to the focus on our core business, further improving our technical performances.

We contributed significantly to the successful performance of the Group with an operating result of €461 million which is 10% of the Generali Group’s result. These outstanding results were supported by positive development in the Non-life business (mainly thanks to better performance reported in the MTPL business in Poland) with a combined ratio below 90% again (89.5%, the best for the Group worldwide). Life gross written premiums in the CEE countries reached almost €1 billion and in the Non-life segment we managed to grow by 5.8% to €2,047 million.

Let us also thank everybody who supported the creation and completion of the Annual Report 2016!