The Italian giant posted a lower than expected result in Q1 16, with an operating result of €1,163m, -12.3% yoy. Net profit income reached €626m (-17.7% yoy). In the Life segment, the operating result amounted to €756m, -8.1% yoy. Life premiums reached €13,430m, -1.3% relative to March 2016. Generali recorded net inflows of €4,546m, +5.5% yoy. APE decreased by 7.5% to €1,321m. NBV rose by 12.7% to €361m, with the New Business margin improving by 480bp to 27.
