Generali’s profits plummet on back of €655m Covid-19-related investment hit

Generali has vowed to “significantly” reduce costs and made clear its financial performance will fall below last year, after net profits were slashed by nearly 85% in Q1 as Covid-19 severally hit its investment portfolio. The insurer saw net profit fall 84.8% to €113m, from €744m in the same period of 2019. Generali said that was primarily because it booked…

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