Adds details in paragraph 3
MILAN, Nov 15 (Reuters) - Generali GASI.MI beat estimates with nine-month profits, despite a 930 million euro hit from natural disasters, Italy's top insurer said on Friday.
Nine-month operating profit - the most closely watched by the market - rose 7.9% to 5.4 billion euros ($5.69 billion), above an analyst consensus provided by the insurer of 5.15 billion euros.
The operating profit of Generali's non-life segment, which in previous quarters was dragged down by the impact of natural catastrophes, rose 2.5% to 2.21 billion euros. This was above a consensus of 2.1 billion euros, also reflecting a positive contribution from the consolidation of U.S. insurer Liberty Seguros bought in January.
Solvency Ratio, a measure of the company's financial strength, fell to 209%, from 220% a year ago, because of the acquisition of Liberty Seguros, regulatory changes, market and non-economic variances, the company said in a statement.
($1 = 0.9488 euros)
($1 = 0.9492 euros)
(Reporting by Gianluca Semeraro; editing by Giulia Segreti)
((gianluca.semeraro@tr.com; +39 06 80 307 741;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.