The Italian insurer Generali presented unexpectedly strong business results for the third quarter of the year.

The property and casualty insurance sector, which had suffered significantly from the effects of storms in the previous year, has developed particularly positively. The life insurance and investment business sectors also contributed to growth with significantly improved results.

Generali faces challenges nonetheless: The recent natural disasters are expected to cost the company around 100 million euros. Despite these risks, Generali remains optimistic and plans to present new strategic and financial goals at an Investor Day on January 30.

The positive business development is also reflected in the stock price. On the Milan Stock Exchange, Generali's share temporarily rose by 4.84 percent to 27.06 euros, increasing the annual gain to over 40 percent.