Generali consensus FY25 and 2026-2027 Results

Last update: 26 February 2026

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  2025E 2026E 2027E
Euro m Min Avg Max Min Avg Max Min Avg Max
Gross written premiums 95,936 98,861 100,171 99,280 103,202 105,560 102,786 107,308 110,220
Life written premiums 59,898 62,795 63,990 61,096 64,988 66,911 62,318 67,062 69,321
P&C written premiums 35,581 36,066 36,352 37,201 38,213 38,698 38,168 40,247 41,406
 
Group operating result 7,805 7,965 8,153 8,274 8,557 8,831 8,680 9,079 9,484
Life operating result 4,079 4,161 4,277 4,182 4,363 4,475 4,355 4,563 4,702
P&C operating result 3,517 3,593 3,690 3,684 3,919 4,130 3,872 4,182 4,533
   o/w Op. Insurance Service Result 2,542 2,611 2,737 2,684 2,896 3,113 2,829 3,122 3,478
   o/w Op. Investment Result 953 982 1,066 970 1,023 1,100 958 1,060 1,200
A&WM operating result 1,140 1,170 1,193 1,203 1,235 1,269 1,270 1,314 1,370
H&O operating result -665 -571 -500 -700 -561 -500 -740 -568 -500
Consolidation adjustment -450 -388 -360 -450 -402 -380 -456 -414 -390
Net result 4,008 4,225 4,382 4,267 4,628 5,069 4,512 4,979 5,477
Adjusted net result 4,203 4,306 4,412 4,397 4,634 4,815 4,642 4,975 5,285
 
Dividend per share (€) 1.50 1.59 1.62 1.60 1.74 1.77 1.80 1.90 1.96
 
Shareholders' equity 30,600 32,110 34,655 32,500 33,939 37,002 34,300 35,890 39,491
Life CSM 31,223 32,343 33,643 32,099 33,640 34,959 32,945 35,019 36,404
Solvency ratio (%) 208 212 215 214 219 227 220 234 256
 
Combined ratio (%) 92.1 92.5 92.8 91.7 92.2 92.8 91.2 92.0 92.7
Undiscounted Combined ratio (%) 93.9 94.2 94.5 93.3 93.8 94.5 92.8 93.6 94.3
Undiscounted Loss Ratio (%) 64.3 65.2 65.5 64.2 65.0 66.0 64.0 65.0 66.0
   o/w Nat Cat 2.0 2.2 2.5 2.8 2.9 3.3 2.8 2.9 3.3
  o/w PYD -1.7 -1.3 -1.2 -2.2 -2.0 -1.5 -2.2 -2.0 -1.5
 
Life New Business Value 2,893 3,050 3,157 2,948 3,273 3,479 3,005 3,474 3,917
Life PVNBP 52,597 56,027 57,927 53,606 58,356 60,823 54,634 60,681 63,864

Please note that the average number of shares outstanding during FY25 has been 1,513,810,624.