Generali Switzerland achieved an overall result in 2018 of CHF 194.2 million, representing an 8.5% increase compared to the previous year. The business transformation launched in 2017 coupled with innovative projects enabled Generali Switzerland to make significant progress towards sustainable growth.
Generali Switzerland grew strongly across the board in 2018. Despite the turbulent year on the stock markets and the overall negative price trend, Generali posted an overall result of CHF 194.2 million, representing an 8.5% increase compared to the previous year. The successful result was driven in particular by infrastructure modernisation, the tailoring of products and services to client needs as well as the promotion of digitalisation and a culture of innovation.
Life and non-life business
Life insurance business fell back during the reporting year, in line with the general market trend (–1.6%). Premiums in the non-life segment fell by 4.0% as a result of the intentionally more prudent underwriting policy within collective health insurance business along with the sustained falls in market prices, in particular in the area of motor vehicle insurance. At a combined ratio of 93.0%, the technical result remained solid in the non-life segment. Due to turbulence on the capital markets, capital investments fell by 1.8%.
Innovation, digitalisation and sustainability
The positive results were boosted by innovative products as well as the implementation of new projects. On the product side, this included in particular a new, completely digital Pillar 3a product – a flagship of digitalisation – along with a new motor vehicle product. In order to develop its culture of innovation, Generali launched the in-house innovation garage during the reporting year. Generali Switzerland has also defined Corporate Social Responsibility as a strategic foundation, thereby establishing sustainability as an essential element of the development of core business.
Further information:
According to public disclosure requirements applicable to insurers, Generali Switzerland has presented separate reports for the companies Generali Personal Insurance Ltd., Generali General Insurance Ltd. and Fortuna Legal Protection Insurance Ltd.
Reports on the 2018 financial position of the various companies, including commented key figures and annual financial statements, can be found here.