Generali Group

          where we are

                                   

          Goals and results

          We are in line to achieve the financial goals defined for the period 2015-2018. Our new strategic plan Generali 2021, presented on November 21st 2018, sets new ambitious targets for the next three years, in particular in terms of value creation for shareholders.

          FINANCIAL TARGETS 2019-2021

          GROWING EARNINGS PER SHARE 

          GROWING DIVIDEND

          HIGHER RETURN FOR SHAREHOLDERS

          6%-8%

          EPS cagr range1 2018-2021

          55%-65%

          Dividend pay out range2 2019-2021

          >11.5%

          Average return on equity3 2019-2021

           

          Each strategic pillar contributes to Earnings per Share growth

          Each strategic pillar contributes to Earnings per Share growth

          Profitable Growth

          • Strengthen leadership in europe: reinforce #1 market position
          • Focus on high potential insurance markets: 15%-25% Earnings CAGR 2018-2021
          • Devolop a global asset management platform: 15%-20% Earnings CAGR 2018-2021
             

          Capital Management and Financial Optimization

          • Increase capital generation: more than €10.5 billion cumulative capital generation 2019-2021
          • Enhance cash remittance: +35% cumulative cash remitted to holding6 2019-2021
          • Reduce debt level and cost: €1.5-2.0 billion debt reduction by 2021; €70-140 million reduction in annual gross interest expense by 2021
             

          Innovation and Digital Transformation

          • Around 1 billion euros of total investments in strategic initiatives over the period of the plan.

          RESULTS ACHIEVED UNTIL 2018

          On the basis of the results achieved in 2017 and in the first half of 2018, we have confirmed the financial targets set for the period 2015-2018: more than 7 billion euro of cash generation, more than 5 billion dividends and an Operating RoE of more than 13%.

          RESULTS ACHIEVED UNTIL 2018

          ACCELERATING TOWARDS EXCELLENCE: TARGETS AND ACHIEVEMENTS

          IMPROVE OPERATING PERFORMANCE
          Optimise
          international
          footprint
          At least €1bn cash proceeds from disposals Achieved
          • Signed deals worth about €1.5 bn
          Rationalise the operating machine €200m net reduction in nominal operating expenses in mature markets Achieved
          • Achieved as of year-end 2017
          Enhance technical capabilities Best Combined Ratio, further improve performance vs. peers On target
          • 92% in 1H18, improved by 0.8p.p. vs. 1H17
          Guarantees maximum 0% on new traditional business On target
          • 14bps at 1H18 (-11bps vs. 1H17), 1bp in Euro-area

           

          LONG-TERM VALUE CREATION
          Rebalance our portfolio 30bps reduction of avg. portfolio guarantee to 1.5% Achieved
          • 1.39% at 1H18, -42bps over the plan period (20bps impact of the agreement on Generali Leben and the geographical optimization program)
          +6p.p. capital light reserves as % of total Achieved
          • +8.4p.p. shift to capital-light reserves (3.2p.p. impact of the agreement on Generali Leben and the geographical optimization program)
          €150m additional net result from Asset Management in 2020 On target
          • €36m additional net result from AM in 1H18 vs. 1H16
          Customer & distributor innovation +2p.p. increase in retention On target
          • 90% of customers covered by NPS program, with NPS metrics improving
          • Other programs: Mobile Hub, Distributors NPS, Digital Agent…
          Strengthen the brand +3% mature market brand preference Acceleration plan activated
          • Innovative marketing solutions
          • Important deal with DVAG in Germany to distribute Generali brand exclusively

           

           

          Generali Investor Day 2018 – Press Release 530 kb  
          Investor Day 2018 presentation 3 mb  
          Financial Information at 30 September 2018 – Press Release 502 kb  
          Consolidated Half-Yearly Financial Report 2018 3 mb