Consolidated Results as of 30 June 2026

Generali’s 2026 half-year financial results demonstrate very strong progress on the Group’s Lifetime Partner 27: Driving Excellence strategic plan, now halfway through its implementation, thanks to the robust performance of all segments.

• Gross written premiums grew to € 53.4 billion (+5.8%), driven by both P&C (+6.3%) and Life (+5.5%)
• Very strong Life net inflows at € 8.3 billion. New Business Value increased substantially to € 1.9 billion (+21.1%)
• Combined Ratio was 91.5% (+0.5 p.p.); undiscounted Combined Ratio was 93.8% (+0.7 p.p.) both reflecting the impact of Nat Cat (+1.9 p.p.)
• Excellent growth in operating result to € 4.5 billion (+11.2%) thanks to all business segments
• Asset & Wealth Management achieved healthy operating result growth (+31.3%) thanks to the robust underlying performance of both businesses
• Adjusted net result grew significantly to € 2.5 billion (+13.7%) underpinned by the Group’s excellent operating performance; adjusted EPS rose to € 1.68 (+14.3%)
• Group’s total AUM reached € 944 billion (+4.9% FY2025)
• Very solid capital position with Solvency Ratio at 216% (219% FY2025) thanks to sound capital generation and accounting for the € 500 million buy-back

Generali Group CEO, Philippe Donnet, said: “This excellent set of results demonstrates the very strong progress on our ‘Lifetime Partner 27: Driving Excellence’ plan, driven by the robust performance of all business segments. In Insurance, Life and P&C continued their trajectory of solid growth in the operating result and in terms of technical profitability, notwithstanding the higher impact of natural catastrophes. Our Asset Management platform further expanded its third-party portfolio, while Banca Generali once again confirmed its successful business model. This performance reflects the dedication of all our colleagues and our distribution network. Together, we will continue to pursue excellence in our customer relationships, core capabilities and our operations, leveraging our AI and data capabilities and strong focus on sustainability. Looking ahead, we will maintain this positive momentum thanks to our consistency, discipline and long-term vision, and we remain fully committed to our ambitious plan targets and to keep delivering value for all stakeholders.”

Building on rising premium growth, strong operating performance, and a solid capital position, Generali continues to execute its strategic priorities successfully. The rapid acceleration of AI adoption is creating new opportunities to enhance customer experience, productivity and innovation, reinforcing the importance of execution excellence and adaptability. The Group also remains deeply committed to the other strategic foundations of the plan - people and sustainability - continuing to invest in skills, leadership, culture and sustainable value creation as key enablers of long-term success.

These achievements highlight the Group’s dedication to delivering lasting value for all stakeholders while advancing its vision for excellence, to continue being a leading Italian, independent, and international Group.

Discover more on the consolidated results as of 30 June 2026 in the full press release.