Generali Consensus 9M and FY20-22 Results
9M 2020E | FY 2020E | FY 2021E | FY 2022E | |||||||||
Euro m | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max |
Summary operating income statement | ||||||||||||
Gross written premiums | 51.474 | 52.240 | 53.581 | 67.235 | 69.459 | 71.563 | 67.240 | 70.204 | 73.662 | 67.983 | 72.838 | 75.690 |
Life written premiums | 34.883 | 35.755 | 37.100 | 46.000 | 47.674 | 48.858 | 46.001 | 48.749 | 50.190 | 46.001 | 49.997 | 51.646 |
P&C written premiums | 16.146 | 16.487 | 16.821 | 20.577 | 21.800 | 23.229 | 21.139 | 22.260 | 23.789 | 21.501 | 22.853 | 24.471 |
Total operating result | 3.704 | 3.874 | 4.069 | 4.705 | 4.975 | 5.178 | 4.956 | 5.247 | 5.526 | 5.013 | 5.435 | 5.785 |
Life operating result | 1.859 | 1.987 | 2.111 | 2.448 | 2.659 | 2.847 | 2.540 | 3.045 | 3.290 | 2.592 | 3.161 | 3.421 |
P&C operating result | 1.716 | 1.808 | 1.943 | 2.130 | 2.304 | 2.493 | 1.817 | 2.144 | 2.691 | 1.831 | 2.181 | 2.656 |
Asset Management op. result | 306 | 322 | 345 | 405 | 444 | 483 | 414 | 479 | 5660 | 419 | 508 | 592 |
H&O op. result | -12 | 31 | 56 | -83 | 0 | 50 | -68 | 17 | 267 | -40 | 27 | 163 |
Consolidation adjustment | -320 | -275 | -239 | -457 | -431 | -410 | -549 | -437 | -361 | -582 | -442 | -366 |
Net profit | 1.097 | 1.282 | 1.574 | 1.209 | 1.717 | 1.981 | 2.040 | 2.462 | 2.802 | 2.428 | 2.626 | 2.937 |
Adjusted Net profit* | 1.280 | 1.465 | 1.757 | |||||||||
Combined ratio (%) | 89,5% | 90,3% | 91,5% | 90,2% | 90,9% | 92,0% | 89,9% | 92,1% | 93,9% | 90,4% | 92,2% | 93,9% |
Per share data | ||||||||||||
Dividend per share (€) | 0,90 | 1,00 | 1,40 | 0,95 | 1,01 | 1,05 | 0,95 | 1,06 | 1,12 | |||
Balance sheet & Solvency ratios | ||||||||||||
Shareholders' equity | 26.484 | 27.189 | 27.893 | 22.576 | 27.296 | 28.812 | 23.254 | 28.051 | 30.107 | 23.951 | 28.972 | 31.396 |
Regulatory Solvency ratio (%) | 193% | 198% | 201% | 195% | 203% | 215% | 200% | 212% | 224% | 206% | 220% | 229% |
Summary Life insurance performance | ||||||||||||
Life New Business Value | 1.153 | 1.248 | 1.341 | 1.580 | 1.738 | 1.884 | 1.648 | 1.798 | 1.989 | 1.660 | 1.875 | 2.157 |
Life PVNBP | 53.627 | 32.462 | 33.801 | 42.448 | 45.670 | 47.883 | 43.850 | 46.885 | 51.295 | 45.309 | 48.585 | 54.934 |
*Adjusted for gains and losses on Discontinued Operations