Generali consensus 1H26 and 2026-2028 results
Last update: 30 July 2026
| 1H26E | 2026E | 2027E | 2028E | |||||||||
| Euro m | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max |
| Gross written premiums | 51,628 | 53,045 | 53,989 | 101,386 | 102,738 | 104,198 | 104,420 | 106,825 | 110,401 | 107,572 | 110,882 | 116,743 |
| Life written premiums | 31,762 | 33,190 | 33,868 | 63,182 | 64,510 | 65,846 | 64,445 | 66,703 | 69,748 | 65,734 | 68,948 | 73,651 |
| P&C written premiums | 19,772 | 19,860 | 20,121 | 37,903 | 38,237 | 38,570 | 39,551 | 40,160 | 40,744 | 40,658 | 42,014 | 43,248 |
| Group operating result | 4,322 | 4,384 | 4,510 | 8,528 | 8,794 | 9,068 | 8,990 | 9,316 | 9,648 | 9,268 | 9,792 | 10,136 |
| Life operating result | 2,100 | 2,177 | 2,250 | 4,352 | 4,445 | 4,597 | 4,506 | 4,640 | 4,838 | 4,596 | 4,831 | 5,127 |
| P&C operating result | 1,990 | 2,115 | 2,222 | 3,897 | 4,040 | 4,315 | 3,993 | 4,320 | 4,542 | 4,102 | 4,563 | 4,787 |
| o/w Op. Insurance Service Result | 1,423 | 1,563 | 1,686 | 2,734 | 2,921 | 3,175 | 2,867 | 3,146 | 3,327 | 2,941 | 3,345 | 3,602 |
| o/w Op. Investment Result | 520 | 554 | 595 | 1,041 | 1,121 | 1,189 | 1,084 | 1,172 | 1,273 | 1,099 | 1,218 | 1,315 |
| A&WM operating result | 619 | 652 | 713 | 1,178 | 1,289 | 1,378 | 1,247 | 1,354 | 1,463 | 1,279 | 1,432 | 1,568 |
| H&O operating result | -326 | -265 | -245 | -628 | -575 | -510 | -650 | -580 | -495 | -700 | -588 | -480 |
| Consolidation adjustment | -321 | -300 | -230 | -430 | -405 | -331 | -446 | -417 | -330 | -483 | -431 | -321 |
| Net result | 2,183 | 2,361 | 2,466 | 4,628 | 4,756 | 5,058 | 4,709 | 5,118 | 5,370 | 4,879 | 5,420 | 5,721 |
| Adjusted net result | 2,195 | 2,410 | 2,542 | 4,315 | 4,767 | 5,153 | 4,714 | 5,134 | 5,418 | 4,884 | 5,434 | 5,803 |
| Dividend per share (€) | - | - | - | 1.75 | 1.81 | 1.89 | 1.90 | 1.99 | 2.05 | 2.02 | 2.15 | 2.26 |
| Shareholders' equity | 30,972 | 32,090 | 34,175 | 32,797 | 34,247 | 36,787 | 34,589 | 36,087 | 38,896 | 36,427 | 37,968 | 41,090 |
| Life CSM | 33,992 | 34,340 | 35,362 | 34,481 | 35,114 | 36,728 | 35,821 | 36,679 | 39,856 | 37,049 | 38,200 | 43,002 |
| Solvency ratio (%) | 213 | 216 | 219 | 206 | 220 | 229 | 220 | 238 | 253 | 223 | 243 | 267 |
| Combined ratio (%) | 90.8 | 91.4 | 92.1 | 91.4 | 92.1 | 92.7 | 91.4 | 92.0 | 92.6 | 91.4 | 91.9 | 92.7 |
| Undiscounted Combined ratio (%) | 93.0 | 93.7 | 94.3 | 93.2 | 93.9 | 94.5 | 93.2 | 93.6 | 94.2 | 93.2 | 93.5 | 94.3 |
| Loss Ratio (%) | 61.5 | 62.3 | 64.4 | 62.0 | 63.0 | 64.7 | 62.0 | 63.0 | 64.2 | 62.0 | 63.0 | 64.2 |
| o/w Nat Cat | 2.9 | 3.5 | 3.8 | 2.7 | 3.2 | 3.9 | 2.6 | 2.8 | 3.0 | 2.6 | 2.8 | 3.0 |
| o/w PYD | -3.5 | -3.2 | -2.9 | -3.0 | -2.5 | -1.9 | -2.5 | -2.1 | -1.8 | -2.5 | -2.1 | -1.8 |
| Life New Business Value | 1,695 | 1,799 | 1,913 | 3,078 | 3,396 | 3,658 | 3,136 | 3,568 | 3,875 | 3,196 | 3,729 | 4,098 |
| Life PVNBP | 31,393 | 32,161 | 33,375 | 55,955 | 58,318 | 59,087 | 57,026 | 60,804 | 62,500 | 58,117 | 63,279 | 66,163 |
Please note that the average number of shares outstanding during 1H26 was 1,503,684,206.