Assicurazioni Generali SpA, Italy’s biggest insurer, said third-quarter profit fell 18 percent after operating income declined at its life-insurance business.
Net income dropped to 420 million euros ($457 million) from 513 million euros a year earlier, Trieste-based Generali said in a statement on Thursday. That compares with 555 million euros, the average of four analyst estimates compiled by Bloomberg. The earnings were also hurt by higher impairments that reflected market volatility, Chief Financial Officer Alberto Minali said during a conference call…Read more at Bloomberg