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GENERALI 190 1831-2021 GENERALI GROUP CONSOLIDATED RESULTS AS AT 30 JUNE 20211 Generali confirms the Group's 03/08/2021 PRESS RELEASE excellent profitability , with with strong growth in premiums , operating and net results . Extremely solid capital position Operating result rose to € 3 billion ( + 10.4 % ) , thanks to the positive performance of the Life , Asset Management and Holding and other businesses segments . The excellent contribution from the P & C segment was confirmed Gross written premiums increased to € 38 billion ( + 5.5 % ) , up in both the Life segment ( + 5.8 % ) and the P & C segment ( + 4.9 % ) . Strong Life net inflows at € 6.3 billion ( -8.6 % ) . The New Business Margin was excellent , and at 4.67 % , among the best in the sector ( 3.94 % 1H20 ) . The Combined Ratio was substantially stable at 89.7 % ( +0.2 p.p. ) → Strong growth in the net result which rose to € 1,540 million ( € 774 million 1H20 ) 3 → Solvency Ratio was extremely solid at 231 % ( 224 % FY2020 ) The Group is fully on track to meet its targets for the year and successfully complete the ' Generali 2021 ' strategic plan The Generali Group CEO , Philippe Donnet , stated : “ Today's excellent results confirm that we are fully on track to successfully deliver the ambitious targets of the current ' Generali 2021 ' plan , even in this very challenging environment . The significant growth achieved in the first six months of the year strengthens Generali's position as the European leader , thanks to our operational excellence , the acceleration of our digital innovation and the quality of our distribution network . We will continue to forge ahead with an even stronger focus on our Lifetime Partner ambition , leveraging on the enthusiasm , passion and energy of our 72,000 colleagues and 165,000 agents worldwide , and we look forward to presenting the new plan at the Investor Day on December 15th . ” 1 Changes in premiums , Life net inflows and new business premiums were presented in equivalent terms ( at constant exchange rates and consolidation scope ) . The operating result , own investments and Life technical provisions excluded any assets disposed of during the same period of comparison . 2 In June 2020 , Generali won the mandate in Italy for the management of two investment segments of Cometa , the National Supplementary Pension Fund for workers in the engineering industry , the installation of industrial plants and similar sectors and for employees in the goldsmith and silversmith sector . Excluding the effect of this pension fund , Life net inflows would have increased by 16.6 % . The adjusted net result - defined as the net result without the impact of gains and losses related to disposals - is equal to the net result of the period , which was not impacted by gains and losses related to disposals . The 1H20 adjusted net result amounted to € 957 million , which neutralised € 183 million resulting from the settlement agreement for the sale of BSI . In addition , excluding the one - off expense of the Extraordinary International Fund for Covid - 19 , the 1H20 adjusted net profit amounted to € 1,032 million . Media Relations T +39.02.43535014 media@generali.com Investor Relations T +39.040.671402 ir@generali.com in Generali ✔ @GENERALI generaligroup GruppoGenerali www.generali.com