Generali Consensus 1H22 and FY22-24 results
Last update: 21 July 2022
1H 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 | 38,743 |
41,119 | 42,471 | 77,250 | 80,538 | 88,266 | 78,667 | 82,887 | 92,562 | 80,095 | 85,376 | 99,176 | |||
Life written premiums | 26,077 | 27,335 | 28,691 | 52,529 | 54,250 | 60,982 | 53,449 | 55,719 | 64,641 | 53,625 | 57,229 | 68,520 | |||
P&C written premiums | 11,984 | 13,755 | 14,902 | 23,587 | 26,289 | 28,439 | 24,536 | 27,168 | 29,270 | 25,497 | 28,148 | 30,656 | |||
Group operating result | 2,650 | 2,964 | 3,092 | 5,644 | 5,957 | 6,193 | 5,918 | 6,251 | 6,554 | 6,158 | 6,581 | 6,966 | |||
Life operating result | 1,375 | 1,527 | 1,692 | 2,799 | 3,017 | 3,126 | 2,900 | 3,151 | 3,286 | 2,971 | 3,303 | 3,573 | |||
P&C operating result | 1,118 | 1,273 | 1,415 | 2,467 | 2,601 | 2,872 | 2,409 | 2,708 | 2,924 | 2,483 | 2,820 | 3,113 | |||
AWM operating result | 359 | 477 | 537 | 656 | 931 | 1,145 | 692 | 993 | 1,184 | 713 | 1,055 | 1,228 | |||
H&O operating result | -50 | 32 | 177 | -175 | 168 | 588 | -195 | 180 | 600 | -200 | 196 | 619 | |||
Consolidation adjustment | -495 | -345 | -266 | -1,018 | -757 | -480 | -997 | -777 | -475 | -1,059 | -795 | -475 | |||
Net result | 1,077 | 1,327 | 1,437 | 2,353 | 2,771 | 2,995 | 2,705 | 3,081 | 3,360 | 2,853 | 3,292 | 3,600 | |||
Combined ratio (%) | 90.8 | 91.5 | 92.3 | 90.8 | 91.6 | 92.1 | 90.8 | 91.6 | 92.8 | 90.8 | 91.7 | 92.8 | |||
Per share data | |||||||||||||||
Dividend per share (€) | 1 .10 | 1 .13 | 1 .15 | 1 .15 | 1 .19 | 1.25 | 1.20 | 1.25 | 1.31 | ||||||
Balance sheet & Solvency ratio | |||||||||||||||
Shareholders' equity | 18,032 | 20,811 | 22,824 | 19,724 | 24,842 | 30,633 | 21,758 | 26,298 | 31,994 | 22,604 | 27,531 | 33,546 | |||
Regulatory Solvency ratio (%) | 226 | 232 | 235 | 226 | 231 | 240 | 231 | 239 | 249 | 233 | 246 | 260 | |||
Summary Life insurance performance | |||||||||||||||
Life New Business Value | 1,139 | 1,241 | 1,317 | 1,984 | 2,506 | 2,784 | 2,010 | 2,598 | 3,163 | 2,036 | 2,683 | 3,415 | |||
Life PVNBP | 24,478 | 25,346 | 26,480 | 50,690 | 53,522 | 56,617 | 52,174 | 55,775 | 59,681 | 53,287 | 57,937 | 64,439 |
Note: the average number of shares outstanding during 2Q has been 1,576,859,597.