By Pietro Lombardi

Assicurazioni Generali SpA said Tuesday that its net profit nearly doubled in the first half and it confirmed its outlook for the year.

The Italian insurer's net profit rose 99% to 1.54 billion euros ($1.83 billion) in the first half.

Operating profit increased 10% to roughly EUR3 billion, as growing results in its life segment and asset-management operations offset a 3.6% decline in property and casualty.

"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," Chief Executive Philippe Donnet said.

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

(END) Dow Jones Newswires

August 03, 2021 01:56 ET (05:56 GMT)

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