(Alliance News) - Banca Generali Spa reported Thursday that it recorded inflows of EUR834 million in December, bringing the full-year figure to EUR5.86 billion, up 3 percent year-on-year.

December also saw a consolidated recovery in managed and insurance solutions compared to previous months, with EUR256 million in new flows. At the product level, financial containers collected EUR131 million in the month -- and EUR699 million in the year --, confirming themselves as the solution that best meets the needs of private clients in terms of diversification and customization offered.

Demand for insurance solutions, particularly traditional policies, then strengthened, with positive flows of EUR125 million in the month, accelerating the recovery initiated since the second half of the year.

Deposits in administered accounts amounted to EUR560 million in the month and EUR7.5 billion for the year, partly due to a number of new placements. Increasingly linked to the dynamics of administered accounts - as in previous months - is the offer of evolved advisory services, whose flows of EUR303 million in December and EUR1.7 billion in the year largely refer to advice on assets under administration of EUR238 million in December and EUR1.75 billion in the year.

Banca Generali CEO and managing director Gian Maria Mossa said, "A strongly accelerating end to the year thanks to the excellence of our offering and our bankers. In terms of total assets of our clients, we have exceeded EUR92 billion, with a growing weight of value-added investment services, evolved advisory and asset management, which are close to EUR20 billion, up EUR3.4 billion for the year. The overall net inflows figure exceeds the 2022 result by more than EUR5.8 billion thanks to the growing productivity of existing advisors."

In addition, insurance investments-despite the year's difficulties-also showed a clear turnaround in the last quarter, as the December figures show."

"2023 has been a year not without challenges and obstacles, complicit with the geopolitical and rate environment, but we are very pleased with the quality and strength of growth: we are at a new peak in assets, with a significant boost from recurring business that best propels us toward the last act of the ambitious goals of our three-year plan."

Banca Generali's stock is up 0.2 percent at EUR34.03 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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