2012 preliminary figures

2012 preliminary figures (*)

Premiums rise to € 70 bln (+3.2%) with growth in both Life and P&C

• Life premiums € 46.8 bln (+3.1%) with growth in savings and protection covers; P&C premiums € 22.8 bln (+3.3%).
• Premium income driven in particular by performance in Germany and CEE countries.

Milan – At a meeting today chaired by Gabriele Galateri di Genola, the Board of Directors of Assicurazioni Generali examined premium performance for financial year 2012.

The Group closed the year with increased production results, especially in the fourth quarter, despite the continuing international economic difficulties. Gross written premiums increased by 3.2% to reach € 69.6 billion. The result was driven primarily by performance in Germany, which confirmed its position as the Group leader in Life production, and in Central Eastern Europe.

Life premiums were € 46.8 billion (+3.1%) with good performance notably in savings products (+5.8%) and protection covers (+3.2%). Premiums in the P&C segment reached € 22.8 billion (+3.3%), with positive growth in the Non-Motor sector (+4.6%) and in the Motor sector (+1.4%).

INSERIRE TABELLA

In Italy, despite the market downturn, the Group closed the year with a positive performance (+0.4%). The result was assisted in particular by pension products (+15%), driven by the initiatives launched by the Group in this segment. A growth trend was registered also in group policies and pension funds (+9.4%). Progress in Germany (+5.7%) was driven in particular by savings products (+14.5%) and protection covers (+1%) and outpaced the market. Performance was also strong in Spain (+12.5%) and a positive contribution came from the CEE countries (+2.9%).

New Life business in terms of APE was also strong, at € 4.5 billion (-1.4%; € 4.8 billion at the end of 2011), with a particularly important contribution from single premiums.

Life net inflows – premiums less payments – at € 3.5 billion showed significant growth with respect to the first nine months of 2012 (€ 1.1 billion).

INSERIRE TABELLA

In the Property & Casualty segment, premiums continued to grow, thanks in particular to Germany (+7%), where there was a remarkable improvement in the accident line thanks to the launch of a new business initiative. Performance was also excellent in the CEE countries (+9.8%), especially in the Non-Motor sector. Italy’s premium income (-2%) was influenced by weak internal demand, especially in the Motor sector, while in the Non-Motor sector a positive contribution came from Individual lines (+2%). France (+0.2%) reported growth in all Non-Motor business lines.

INSERIRE TABELLA

The Manager in charge of preparing the company’s financial reports, Alberto Minali, declares, pursuant to paragraph 2 article 154 bis of the Consolidated Law on Finance, that the accounting information in this press release corresponds to the document results, books and accounting entries.

(*) All percentage changes are computed on a like-for-like basis (i.e on equivalent exchange rates and consolidation area). For France, the like-for-like change includes the transfer effects of the Protection & Health portfolio from P&C to Life segment; 2011 figures have not been restated on a proforma basis.

Following the disposal of Migdal Group closed in October 2012, 2011 premium income for Rest of the world and Group total clusters have been restated excluding Migdal Group.