Generali Consensus 1H23 and FY23-25 results

Last update: 24 July 2023


1H 2023E FY 2023E FY 2024E FY 2025E
Euro m Min Avg Max Min Avg Max Min Avg Max Min Avg Max
Gross written premiums 38,905 42,173 43,963 75,825 81,594 86,149 75,826 84,206 90,138 75,827 86,059 91,456
Life written premiums 24,524 25,993 27,678 46,935 51,389 54,489 48,670 52,750 56,118 50,047 54,202 58,924
P&C written premiums 13,830 16,151 17,820 29,352 30,828 32,534 30,159 32,297 34,020 30,913 33,334 35,135
Group operating result 3,147 3,462 3,616 6,470 6,845 7,117 6,575 7,180 7,675 6,705 7,463 8,054
Life operating result 1,752 1,860 2,006 3,434 3,737 4,021 3,546 3,867 4,234 3,490 3,979 4,521
P&C operating result 1,292 1,533 1,642 2,648 2,927 3,106 2,554 3,074 3,569 2,557 3,206 3,835
AWM operating result 447 484 540 877 975 1,054 921 1,049 1,139 967 1,104 1,266
H&O operating result -291 -198 -151 -468 -384 -310 -500 -392 -320 -550 -403 -312
Consolidation adjustment -320 -226 -134 -568 -427 -250 -496 -431 -250 -550 -438 -250
Adjusted net result 1,511 1,943 2,338 3,118 3,457 3,900 3,145 3,612 4,024 3,294 3,801 4,311
Dividend per share (€)       1.20 1.23 1.26 1.24 1.31 1.37 1.26 1.38 1.45
Shareholders' equity 26,730 27,275 29,088 28,026 28,686 29,142 29,369 30,357 31,215 30,655 32,098 33,387
Life CSM 29,774 30,764 31,623 29,252 31,119 32,390 30,057 32,103 34,021 30,375 33,190 35,733
Regulatory Solvency ratio (%) 222 230 233 224 231 243 227 237 245 229 244 255
Combined ratio (%) 91.1 92.2 94.1 92.7 93.1 93.8 92.1 93.0 94.2 92.0 92.9 94.6
Undiscounted Combined ratio (%) 94.0 95.1 96.8 94.8 95.4 96.2 93.7 95.1 96.3 93.8 95.0 96.3
Life New Business Value 1,176 1,250 1,322 2,263 2,432 2,632 2,231 2,502 2,738 2,342 2,597 2,970
Life PVNBP 21,021 21,974 23,159 39,560 42,513 46,504 39,784 43,872 47,175 40,976 45,195 48,614