Strategy
The strategic plan “Lifetime Partner 27: Driving Excellence” is accelerating the pursuit of excellence in customer relationships, core capabilities and the Group’s operating model, with the goal of driving further growth in earnings, cash generation and shareholder returns
The Group’s current three-year plan, presented at the Investor Day on 30 January 2025, includes ambitious growth targets for the 2025–2027 period, building on the achievement and outperformance of all the main financial targets of the previous 2022–2024 plan.
"Thanks to our ‘Lifetime Partner 27: Driving Excellence’ plan, we will further enhance excellence across our customer relationships, our Group operating model and our core capabilities. We will invest in AI, new technologies and upskilling our employees to capture opportunities from emerging trends, fast-changing customer expectations and a rapidly evolving market."
Philippe Donnet, Generali Group CEO
Strategic Priorities
The Lifetime Partner 27: Driving Excellence strategic plan sets out a clear vision for Generali in 2027. Our focus is clear: driving excellence in everything we do, building on three strategic priorities.
Excellence in our customer relationships
We are strengthening our commitment as a Lifetime Partner to all our customers, delivering an increasingly simple and intuitive experience across all channels, both digital and physical. We continue to develop personalized and innovative solutions capable of meeting the constantly evolving needs of individuals, families, and businesses.
We are also further enhancing our distribution networks, ensuring that our more than 164,000 advisors have access to cutting-edge tools and analytics, also supported by artificial intelligence.
Excellence in core capabilites
We are accelerating our growth in our preferred business areas.
- In Insurance, where we are a leader in the Retail and SME segments in Continental Europe and operate in selected high-potential markets in Asia and Latin America. We are accelerating business growth by leveraging our customer base (75 million worldwide) and the strength of our network of 221,000 distributors. The plan includes a range of targeted actions aimed at strengthening our position across all three segments: Life, Property & Casualty and Asset & Wealth Management.
- In Asset Management, where we are one of the leading European players, we are continuing to expand and diversify our investment capabilities, with a focus on Private Markets and Real Assets. We are also enhancing our distribution capabilities and customer service.
Excellence in the operating model
We continue to centralize areas with distinctive expertise, fostering talent and optimizing investments. Greater centralization and large-scale shared services are enabling increased productivity and effectiveness, while Group IT platforms support ongoing technological evolution.
Leveraging AI and Data is a key pillar of our strategy to enhance customer experience, drive operational efficiency, and achieve technical excellence. We are focusing on New (Gen)AI-powered engines and scaling 16 (Gen)AI flagship applications across our businesses and geographies.
Strategic Foundations
The delivery of our strategic plan is built on three strategic foundations:
- Our people, through the continuous development of skills and a distinctive culture based on excellence and meritocracy, capable of attracting top talent and creating a Future-Ready organization.
Learn more - AI and data, with a strategic, integrated, and ethical approach to technology, aimed at enhancing the experience of customers and distribution networks, increasing operational efficiency, and achieving technical excellence.
Learn more - Sustainability, fully integrated across all our activities: we are committed to being a responsible insurer, investor, employer, and corporate citizen.
Learn more
Financial Targets
The Lifetime Partner 27: Driving Excellence plan is creating significant and sustainable value with ambitious growth targets for 2025–2027:
- Strong earnings growth: 8–10% EPS CAGR
- Solid cash generation: > €11 billion in cumulative net operating cash flows
- Increase in dividends per share: >10% DPS CAGR, supported by a ratchet policy
The plan also defines a clear capital management framework, with an increased focus on shareholder returns:
- Over €7 billion in cumulative dividends (2025–2027), approximately 30% higher than in 2022–2024
- Commitment to share buybacks of at least €1.5 billion over the plan period
Strategy archive
Lifetime Partner 24: Driving Growth
Ambitious 2024 targets based on sustainable growth:
Strong earnings growth: 6% - 8% EPS CAGR range (2021-24)
Robust EPS growth driven by:
- Higher growth in P&C and ongoing transformation of Life portfolio, supported by continuous expense optimization
- Sustained revenue growth in Asset Management
- Increased contribution from high quality technical and fee earnings
- Effective capital redeployment
Increased cumulative net Holding cash flow: > € 8.5 billion (2022-24)
To be achieved through:
- Growing recurring cash remittances underpinned by solid capital generation
- Continued implementation of disciplined Group Capital Management Framework, enabled by resilient Solvency position
Higher dividend: cumulative € 5.2 - 5.6 billion cash dividends (2022-24) vs € 4.5 billion (2019-21)
To be achieved by:
- Boosting P&C revenues and maintain best-in-class technical margins
- Growing capital light business, technical profits and ESG product range
- Underpinning growth with effective cost management
Key highlights of the new strategic plan
Drive sustainable growth
- Improve market share in segments with significant growth potential – SMEs, Senior Care in Europe and Travel in the US
- Seize growth opportunities offered by health protection gap thanks to our leadership in core markets
- Drive Unit Linked business volumes and further internalize margins
- Boost protection as a de-risking tool for investment solutions
- Expand ESG solutions proposition
- Maintain cost discipline in mature insurance markets
- Focus investments in Asia and fee businesses
Enhance earnings profile
- Undertake comprehensive in-force optimization to reduce capital intensity and improve operating result
- Enhance strategic asset allocation, integrate ESG and leverage real asset platform to improve returns
- Reinforce leadership in Europe and strengthen presence in selected Asian markets
- Invest in selected Asset Management capabilities and build scale to accelerate 3rd party growth
- Expand real asset capabilities building an in-house private debt proposition to improve risk-adjusted returns and fee margin
- Upscale distribution platform to drive organic growth in 3rdparty revenues
Lead innovation
- Increase customer value by scaling digitally-enabled advisory model
- Establish seamless omni-channel approach across distribution channels
- Gain share of European digital profit pool by scaling direct operations
- Leverage new data capabilities to improve technical leadership and offer value-added services through digital ecosystems
- Develop powerful and sustainable innovation engine to support future growth
- Reduce costs through digitization, core process automation and shared platforms
- Optimize further claims management using Artificial Intelligence