Generali Group

          where we are

                                   

          Debt & ratings

          Debt & ratings

          Liabilities are split into two categories: liabilities linked to operating activities (consolidated financial liabilities related to specific balance sheet items) and liabilities linked to financing activities (including the other consolidated financial liabilities, including subordinated liabilities, bond issued and other loans obtained).

          (€ million) 31/12/2017 31/12/2016
          Liabilities linked to operating activities 30,501 28,445
          Liabilities linked to financing activities 11,815 12,669
            Subordinated liabilities 8,379 9,126
            Senior bonds 2,980 3,017
            Other non subordinated liabilities linked to financing activities 426 526
          Total 42,316 41,114

          The weighted average cost of liabilities linked to financing activities at 31 December 2017 amounted to 5.71%, basically unchanged compared to the 5.67% of December 2016.

          Average cost & maturity of financial debt (%)

            2017 2016
          Average cost 5.71% 5.67%
            Subordinated/Hybrid 6.22% 6.14%
            Senior 4.19% 4.18%
          Average maturity (years) 6.22 6.72

          Total financial debt

          Total financial debt


          (1) The amount of financial debt as of 2016 December, 31, includes the subordinated bond issued in June 2016, for a nominal amount of Euro 850 m, to refinance 2017 callable hybrid bond