Generali consensus 9M25 and 2025-2027 Results
Last update: 06 November 2025
| 9M25E | 2025E | 2026E | 2027E | |||||||||
| Euro m | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max |
| Gross written premiums | 68,704 | 71,601 | 72,322 | 95,716 | 98,204 | 100,337 | 99,423 | 102,414 | 105,469 | 102,939 | 106,480 | 111,028 |
| Life written premiums | 41,800 | 44,682 | 45,421 | 59,591 | 62,002 | 64,352 | 61,096 | 64,105 | 67,409 | 62,318 | 66,125 | 70,689 |
| P&C written premiums | 26,810 | 26,915 | 27,016 | 35,581 | 36,193 | 37,409 | 37,201 | 38,304 | 39,893 | 38,168 | 40,369 | 42,132 |
| Group operating result | 5,683 | 5,925 | 6,093 | 7,739 | 7,967 | 8,344 | 8,205 | 8,490 | 8,774 | 8,604 | 9,006 | 9,385 |
| Life operating result | 2,960 | 3,054 | 3,135 | 4,037 | 4,152 | 4,277 | 4,158 | 4,342 | 4,456 | 4,324 | 4,544 | 4,660 |
| P&C operating result | 2,620 | 2,799 | 2,946 | 3,322 | 3,613 | 3,908 | 3,660 | 3,878 | 4,070 | 3,790 | 4,133 | 4,419 |
| o/w Op. Insurance Service Result | 1,900 | 2,075 | 2,192 | 2,580 | 2,671 | 2,952 | 2,667 | 2,893 | 3,063 | 2,752 | 3,110 | 3,370 |
| o/w Op. Investment Result | 683 | 724 | 779 | 938 | 967 | 1,014 | 970 | 1,009 | 1,047 | 971 | 1,049 | 1,141 |
| A&WM operating result | 780 | 833 | 857 | 1,093 | 1,158 | 1,221 | 1,160 | 1,223 | 1,291 | 1,218 | 1,302 | 1,382 |
| H&O operating result | -445 | -424 | -400 | -623 | -561 | -400 | -600 | -550 | -400 | -620 | -557 | -400 |
| Consolidation adjustment | -392 | -335 | -319 | -525 | -395 | -360 | -543 | -403 | -338 | -562 | -416 | -330 |
| Net result | 3,035 | 3,145 | 3,267 | 3,897 | 4,222 | 4,524 | 4,227 | 4,583 | 4,907 | 4,514 | 4,918 | 5,394 |
| Adjusted net result | 3,010 | 3,213 | 3,351 | 4,047 | 4,296 | 4,608 | 4,307 | 4,589 | 4,742 | 4,594 | 4,920 | 5,205 |
| Dividend per share (€) | - | - | - | 1.50 | 1.58 | 1.62 | 1.60 | 1.73 | 1.77 | 1.80 | 1.90 | 1.96 |
| Shareholders' equity | 30,264 | 30,712 | 32,441 | 31,181 | 32,159 | 36,324 | 32,344 | 33,906 | 38,436 | 33,682 | 35,758 | 40,747 |
| Life CSM | 31,356 | 31,725 | 31,887 | 31,223 | 32,041 | 33,454 | 32,099 | 33,351 | 35,423 | 32,945 | 34,742 | 37,338 |
| Solvency ratio (%) | 207 | 213 | 217 | 205 | 210 | 214 | 210 | 216 | 223 | 219 | 229 | 250 |
| Combined ratio (%) | 91.3 | 91.9 | 92.7 | 91.6 | 92.5 | 93.3 | 91.7 | 92.3 | 93.0 | 91.3 | 92.1 | 92.9 |
| Undiscounted Combined ratio (%) | 93.3 | 93.9 | 94.6 | 93.3 | 94.2 | 94.9 | 93.4 | 94.0 | 94.6 | 93.0 | 93.8 | 94.6 |
| Undiscounted Loss Ratio (%) | 63.4 | 64.9 | 66.0 | 63.2 | 64.9 | 66.2 | 63.0 | 64.9 | 66.1 | 62.8 | 64.8 | 66.1 |
| o/w Nat Cat | 1.6 | 2.3 | 2.9 | 2.1 | 2.6 | 3.0 | 2.7 | 2.9 | 3.3 | 2.7 | 2.9 | 3.3 |
| o/w PYD | -2.5 | -2.2 | -1.9 | -2.5 | -2.0 | -1.6 | -2.5 | -2.1 | -2.0 | -2.5 | -2.1 | -2.0 |
| Life New Business Value | 2,045 | 2,142 | 2,195 | 2,825 | 2,929 | 3,062 | 2,948 | 3,147 | 3,396 | 3,005 | 3,343 | 3,738 |
| Life PVNBP | 39,183 | 40,764 | 42,421 | 47,911 | 53,933 | 57,632 | 50,786 | 56,222 | 60,513 | 53,833 | 58,543 | 63,539 |
Please note that the average number of shares outstanding during 9M25 has been 1,516,784,329.