Generali profit jumps 52 per cent

Assicurazioni Generali, Europe’s third largest insurer, reported a rise in profit in 2009, but weak non-life operations meant it missed analysts expectations. The net profit of €1.309bn, up 52 per cent from 2008, compared with a market estimate of €1.417bn. The cash dividend of €0.35 per share also missed expectations of €0.41 a share. In 2010, Generali said it expects a further rise in net profit.