Generali Consensus 1H23 and FY23-25 results
Last update: 24 July 2023
| 1H 2023E | FY 2023E | FY 2024E | FY 2025E | |||||||||
| Euro m | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max |
| Gross written premiums | 38,905 | 42,173 | 43,963 | 75,825 | 81,594 | 86,149 | 75,826 | 84,206 | 90,138 | 75,827 | 86,059 | 91,456 |
| Life written premiums | 24,524 | 25,993 | 27,678 | 46,935 | 51,389 | 54,489 | 48,670 | 52,750 | 56,118 | 50,047 | 54,202 | 58,924 |
| P&C written premiums | 13,830 | 16,151 | 17,820 | 29,352 | 30,828 | 32,534 | 30,159 | 32,297 | 34,020 | 30,913 | 33,334 | 35,135 |
| Group operating result | 3,147 | 3,462 | 3,616 | 6,470 | 6,845 | 7,117 | 6,575 | 7,180 | 7,675 | 6,705 | 7,463 | 8,054 |
| Life operating result | 1,752 | 1,860 | 2,006 | 3,434 | 3,737 | 4,021 | 3,546 | 3,867 | 4,234 | 3,490 | 3,979 | 4,521 |
| P&C operating result | 1,292 | 1,533 | 1,642 | 2,648 | 2,927 | 3,106 | 2,554 | 3,074 | 3,569 | 2,557 | 3,206 | 3,835 |
| AWM operating result | 447 | 484 | 540 | 877 | 975 | 1,054 | 921 | 1,049 | 1,139 | 967 | 1,104 | 1,266 |
| H&O operating result | -291 | -198 | -151 | -468 | -384 | -310 | -500 | -392 | -320 | -550 | -403 | -312 |
| Consolidation adjustment | -320 | -226 | -134 | -568 | -427 | -250 | -496 | -431 | -250 | -550 | -438 | -250 |
| Adjusted net result | 1,511 | 1,943 | 2,338 | 3,118 | 3,457 | 3,900 | 3,145 | 3,612 | 4,024 | 3,294 | 3,801 | 4,311 |
| Dividend per share (€) | 1.20 | 1.23 | 1.26 | 1.24 | 1.31 | 1.37 | 1.26 | 1.38 | 1.45 | |||
| Shareholders' equity | 26,730 | 27,275 | 29,088 | 28,026 | 28,686 | 29,142 | 29,369 | 30,357 | 31,215 | 30,655 | 32,098 | 33,387 |
| Life CSM | 29,774 | 30,764 | 31,623 | 29,252 | 31,119 | 32,390 | 30,057 | 32,103 | 34,021 | 30,375 | 33,190 | 35,733 |
| Regulatory Solvency ratio (%) | 222 | 230 | 233 | 224 | 231 | 243 | 227 | 237 | 245 | 229 | 244 | 255 |
| Combined ratio (%) | 91.1 | 92.2 | 94.1 | 92.7 | 93.1 | 93.8 | 92.1 | 93.0 | 94.2 | 92.0 | 92.9 | 94.6 |
| Undiscounted Combined ratio (%) | 94.0 | 95.1 | 96.8 | 94.8 | 95.4 | 96.2 | 93.7 | 95.1 | 96.3 | 93.8 | 95.0 | 96.3 |
| Life New Business Value | 1,176 | 1,250 | 1,322 | 2,263 | 2,432 | 2,632 | 2,231 | 2,502 | 2,738 | 2,342 | 2,597 | 2,970 |
| Life PVNBP | 21,021 | 21,974 | 23,159 | 39,560 | 42,513 | 46,504 | 39,784 | 43,872 | 47,175 | 40,976 | 45,195 | 48,614 |