Financial highlights
Generali overdelivered on “Lifetime Partner 24: Driving Growth” plan targets and achieved record operating and adjusted net result.
Key 2024 financials at a glance
| FY23 | FY24 | Change1 | |
|---|---|---|---|
| VOLUMES | |||
| Gross written Premiums (€ m) | 82,466 | 95,190 | +14.9% |
| of which Life | 51,346 | 61,434 | +19.2% |
| of which P&C | 31,120 | 33,756 | +7.7% |
| Life Net Inflows (€ m) | -1,313 | 9,674 | n.m. |
| PROFITABILITY | |||
| Operating results (€ m) | 6,742 | 7,295 | +8.2% |
| Adjusted Net result (€ m) | 3,575 | 3,769 | +5.4% |
| New Business Margin (on PVNBP) | 5.78% | 4.60% | -1.19 p.p. |
| Combined Ratio | 94.0% | 94.0% | 0 p.p. |
| Combined Ratio undiscounted | 96.7% | 95.9% | -0.8 p.p. |
| CASH & DIVIDENDS | |||
| Net Holding Cash Flow (€ m) | 2,936 | 3,761 | +28.1% |
| Dividend per share (€) | 1.28 | 1.43 | +11.7% |
| CAPITAL | |||
| Shareholder's equity (€ m) | 28,968 | 30,389 | +4.9% |
| Solvency 2 ratio (%) | 220% | 210% | -10 p.p. |
1 FY2023 figures have been restated considering LTIP and other share-based payments (including WeShare plan) have been moved from non-operating results to operating results. Changes in premiums, Life net inflows and new business are presented on equivalent terms (at constant exchange rates and consolidation scope). The amounts are rounded and may not add up to the rounded total in all cases. Also, the percentages presented can be affected by the rounding.
