Generali 9M22 and FY22-24 consensus
Last update: 27 October 2022
9M 2022E | FY 2022E | FY 2023E | FY 2024E | ||||||||||||
Euro m | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max | |||
Summary operating income statement | |||||||||||||||
Gross written premiums | 56,182 |
59,302 | 61,719 | 77,396 | 80,935 | 84,081 | 78,816 | 83,594 | 87,780 | 80,266 | 86,155 | 92,498 | |||
Life written premiums | 35,400 | 38,817 | 40,818 | 51,338 | 53,703 | 56,073 | 52,413 | 55,165 | 58,342 | 53,276 | 56,748 | 61,842 | |||
P&C written premiums | 17,242 | 20,501 | 21,040 | 24,474 | 27,391 | 29,153 | 25,545 | 28,514 | 30,025 | 26,591 | 29,512 | 31,226 | |||
Group operating result | 4,353 | 4,523 | 4,672 | 5,767 | 6,003 | 6,193 | 5,914 | 6,299 | 6,531 | 6,318 | 6,671 | 7,174 | |||
Life operating result | 2,343 | 2,456 | 2,529 | 3,045 | 3,200 | 3,352 | 2,922 | 3,285 | 3,612 | 3,145 | 3,438 | 3,855 | |||
P&C operating result | 1,773 | 1,859 | 1,910 | 2,363 | 2,576 | 2,768 | 2,556 | 2,757 | 3,054 | 2,562 | 2,910 | 3,142 | |||
AWM operating result | 625 | 699 | 741 | 711 | 930 | 1,045 | 777 | 980 | 1,063 | 828 | 1,045 | 1,130 | |||
H&O operating result | 91 | 161 | 253 | -30 | 159 | 300 | 47 | 146 | 255 | 28 | 160 | 284 | |||
Consolidation adjustment | -778 | -656 | -600 | -1,033 | -864 | -625 | -1,027 | -871 | -765 | -1,052 | -892 | -787 | |||
Net result | 1,867 | 2,049 | 2,231 | 2,416 | 2,753 | 3,000 | 2,689 | 3,080 | 3,447 | 2,942 | 3,302 | 3,679 | |||
Combined ratio (%) | 92.7 | 93.0 | 93.7 | 91.4 | 92.6 | 93.6 | 91.5 | 92.3 | 93.5 | 91.4 | 92.2 | 93.3 | |||
Per share data | |||||||||||||||
Dividend per share (€) | 1.10 | 1.12 | 1.15 | 1.15 | 1.19 | 1.23 | 1.20 | 1.25 | 1.31 | ||||||
Balance sheet & Solvency ratio | |||||||||||||||
Shareholders' equity | 13,385 | 16,086 | 18,887 | 13,933 | 18,602 | 25,157 | 14,763 | 20,142 | 29,949 | 16,399 | 21,674 | 31,389 | |||
Regulatory Solvency ratio (%) | 220 | 224 | 228 | 222 | 228 | 238 | 227 | 236 | 249 | 231 | 242 | 260 | |||
Summary Life insurance performance | |||||||||||||||
Life New Business Value | 1,526 | 1,771 | 2,056 | 2,101 | 2,484 | 2,748 | 1,876 | 2,549 | 3,163 | 1,970 | 2,640 | 3,415 | |||
Life PVNBP | 31,573 | 33,635 | 36,480 | 43,573 | 49,995 | 55,274 | 45,752 | 52,219 | 59,681 | 47,098 | 54,174 | 64,439 |
Note: the average number of shares outstanding during 3Q has been 1,576,859,597