Generali Q1 premiums decline 8.3pc on life business

MILAN, April 30 (Bloomberg): Assicurazioni Generali SpA (G), Italy's largest insurer, said first-quarter gross premiums fell 8.3 per cent, affected by a contraction of single premiums at its life-insurance business. Total premiums decreased to 19.1 billion euros ($28.3 billion) in the first three months of 2011 from 20.8 billion euros a year earlier, Chief Executive Officer Giovanni Perissinotto told a shareholders' meeting today in Trieste, where the company is based. Non-life premiums rose 2.1 per cent to 6.8 billion euros in the period. Generali's first-quarter net income and operating income were higher than a year earlier, Perissinotto said, without giving figures. "We also expect 2011 earnings better than last year after the good set of results seen in the first quarter," he said.