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Generali beats profit forecast despite Russia impact

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Reuters UK

By Gianluca Semeraro MILAN (Reuters) -Assicurazioni Generali beat expectations in the first quarter even as impairments on Russia drove net profit lower, a boost for CEO Philippe Donnet who last month won a shareholder battle to keep his job for another three years. Italy’s biggest insurer said on Thursday net profit fell 9.3% from a year earlier to 727 million euros ($762 million), well above an analyst consensus provided by the insurer of 651 million euros. “With revenues, margins, earnings and capital all comfortably ahead of consensus, alongside management’s reiteration of their plan targe…

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