Generali Group

                                 

          Goals and results

          Our three-year strategic plan Generali 2021, presented on November 21st 2018, sets ambitious targets to accelerate the Group’s growth and deliver superior returns to our shareholders.

          FINANCIAL TARGETS 2019-2021

          FINANCIAL TARGETS 2019-2021 

          CURRENT STATUS

          6%-8%
          EPS CAGR RANGE1
          2018 – 2021

          ON TRACK

          €4.5 - 5.0 billion
          CUMULATIVE DIVIDENDS
          2019 – 2021

          ON TRACK
          subject to regulatory enviroment

          55% - 65%
          DIVIDEND PAY-OUT RANGE2

           

          >11.5%
          AVERAGE RETURN ON EQUITY3
          2019 – 2021

          2019 and 2021e ROE >11.5%
          2020 impact of COVID-19 and one-offs

           

          (1) 3 year CAGR; adjusted for impact of gains and losses related to disposals and Liability Management loss
          (2) Adjusted for impact of gains and losses related to disposals
          (3) Based on IFRS Equity excluding OCI and on total net result

          Each strategic pillar contributes to Earnings per Share growth

          Each strategic pillar contributes to Earnings per Share growth

          The Generali 2021 Strategy – targets and achievements

          Pillars Goals 2020 Achievements Main industrial KPIs Status
          Profitable Growth

          Strengthen leadership in Europe

          Completion of the integration of Seguradoras Unidas and AdvanceCare in Portugal

          Earnings CAGR 2018-2021 insurance markets Europe (3% - 6%)


          On track
           

          Focus on high potential insurance markets

          2nd non-life and 3rd health player in Greece with Axa’s operations acquisition and extension of Bancassurance with Alpha Bank

          Earnings CAGR 2018-2021 service-based revenue streams (7% - 10%)

          Slowdown in Europ Assistance

          Develop a global Asset Management platform

          Progression in strategic partnership with Cattolica, in AM, IoT, health, reinsurance

          Earning CAGR 2018-2021 high potential insurance markets (20% - 25%)

          On track

              Earning CAGR 2017-2021 Asset Management (>20%)

          On track

          Capital Management and Financial Optimization

          Increase capital generation

          Strong operating capital generation at € 4.0 bn

          Cumulative capital generation 2019-2021 > €10.5 bn

          On track 

          Enhance cash remittance

           

          Diversified cash remittance to holding at record € 4.0 bn also thanks to cash and capital management and net holding cash flows increased to € 3.7 bn Net cash remittance to holding 2019-2021 > € 7 bn

          On track

          Reduce debt amount and cost

          Financial debt overall deleveraging of € 1.9 bn as of 2020 Financial debt reduction by 2021 vs 2018 € 1.5 - 2 bn

          Achieved 

            € 200 m gross interest expense reduction expected in 2021 vs 2017 Gross financial debt interest expense reduction 2021 vs. 2017 € 70 - 140 mln

          Over-achieved 

          Innovation and Digital Transformation

          Transform and digitalize operating model

          Launched Group Operations Service Platform, JV with Accenture to accelerate digital transformation

          Total Investments toward internal strategic initiatives 2019-2021 € 1 billion

          On track

          Enable digital transformation of distribution Further progress in Relationship Net Promoter Score, with best increase among peers: +6 points Cum. expense reduction Insurance Europe 2018-2021 (€ 200 mln) achieved and committed to deliver further €100 mln savings by 2021 On track
          Become a life-time partner to customers Ongoing committment to customers also throughout the pandemic within the Life-Time Partner ambition    

          As to the official update on targets, goals and results, please refer to the full set of public documents related to the Generali Group FY2020 results and strategic plan presentations during Investor Days

          Generali Investor Day 2018 – Press Release 530 kb  
          Investor Day 2018 presentation 3 mb