Generali consensus 9M26 and 2026-2028 results
Last update: 06 November 2026
| 9M26E | 2026E | 2027E | 2028E | |||||||||
| Euro m | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max |
| Gross written premiums | 75,349 | 76,822 | 77,539 | 102,140 | 103,179 | 104,198 | 105,550 | 107,527 | 110,401 | 108,457 | 111,907 | 116,743 |
| Life written premiums | 46,945 | 48,342 | 48,868 | 63,439 | 64,815 | 65,846 | 65,608 | 67,265 | 69,748 | 66,979 | 69,782 | 73,651 |
| P&C written premiums | 28,377 | 28,480 | 28,671 | 37,903 | 38,365 | 38,701 | 39,715 | 40,294 | 40,867 | 41,368 | 42,203 | 43,248 |
| Group operating result | 6,205 | 6,481 | 6,580 | 8,454 | 8,723 | 9,035 | 9,024 | 9,286 | 9,611 | 9,225 | 9,743 | 10,242 |
| Life operating result | 3,210 | 3,266 | 3,343 | 4,302 | 4,402 | 4,490 | 4,453 | 4,613 | 4,838 | 4,606 | 4,807 | 5,127 |
| P&C operating result | 2,631 | 2,890 | 3,017 | 3,636 | 3,959 | 4,164 | 4,106 | 4,307 | 4,426 | 4,217 | 4,535 | 4,705 |
| o/w Op. Insurance Service Result | 1,807 | 2,055 | 2,183 | 2,595 | 2,827 | 3,064 | 3,003 | 3,127 | 3,247 | 3,048 | 3,305 | 3,442 |
| o/w Op. Investment Result | 808 | 836 | 893 | 1,041 | 1,132 | 1,201 | 1,097 | 1,180 | 1,278 | 1,094 | 1,230 | 1,318 |
| A&WM operating result | 1,025 | 1,054 | 1,082 | 1,178 | 1,351 | 1,464 | 1,247 | 1,377 | 1,442 | 1,326 | 1,444 | 1,568 |
| H&O operating result | -452 | -406 | -376 | -628 | -584 | -520 | -650 | -590 | -500 | -700 | -597 | -490 |
| Consolidation adjustment | -349 | -330 | -320 | -437 | -405 | -390 | -460 | -421 | -397 | -475 | -434 | -397 |
| Net result | 3,170 | 3,491 | 3,652 | 4,566 | 4,717 | 4,981 | 4,820 | 5,105 | 5,348 | 4,974 | 5,389 | 5,769 |
| Adjusted net result | 3,283 | 3,560 | 3,690 | 4,576 | 4,796 | 4,987 | 4,825 | 5,148 | 5,418 | 4,979 | 5,430 | 5,803 |
| Dividend per share (€) | - | - | - | 1.78 | 1.82 | 1.86 | 1.90 | 1.98 | 2.05 | 2.04 | 2.14 | 2.26 |
| Shareholders' equity | 31,188 | 32,009 | 32,524 | 32,150 | 33,563 | 36,799 | 34,153 | 35,491 | 38,960 | 35,775 | 37,506 | 41,269 |
| Life CSM | 34,008 | 34,510 | 35,100 | 34,400 | 35,028 | 36,564 | 35,751 | 36,533 | 38,564 | 37,088 | 38,119 | 40,564 |
| Solvency ratio (%) | 203 | 212 | 216 | 210 | 216 | 222 | 222 | 233 | 245 | 227 | 238 | 256 |
| Combined ratio (%) | 92.1 | 92.6 | 93.5 | 91.8 | 92.4 | 93.1 | 91.7 | 92.0 | 92.5 | 91.5 | 92.0 | 92.5 |
| Undiscounted Combined ratio (%) | 94.4 | 94.8 | 95.5 | 93.5 | 94.3 | 94.9 | 93.5 | 93.9 | 94.5 | 93.3 | 93.8 | 94.6 |
| Loss Ratio (%) | 63.0 | 63.5 | 64.4 | 62.5 | 63.3 | 64.1 | 62.3 | 63.0 | 64.0 | 62.3 | 63.0 | 63.9 |
| o/w Nat Cat | 4.5 | 5.1 | 5.3 | 2.8 | 3.7 | 4.7 | 2.6 | 2.9 | 3.5 | 2.6 | 2.9 | 3.5 |
| o/w PYD | -4.6 | -4.0 | -3.3 | -3.7 | -2.8 | -2.0 | -2.8 | -2.1 | -1.8 | -2.5 | -2.1 | -1.8 |
| Life New Business Value | 2,540 | 2,653 | 2,751 | 3,078 | 3,463 | 3,658 | 3,136 | 3,583 | 3,875 | 3,196 | 3,752 | 4,098 |
| Life PVNBP | 42,716 | 44,798 | 45,627 | 55,955 | 58,421 | 59,775 | 57,026 | 60,934 | 62,500 | 58,117 | 63,400 | 66,163 |
Please note that the average number of shares outstanding during 9M26 was 1,505,746,871