Generali consensus 1Q26 and 2026-2028 results
Last update: 07 May 2026
| 1Q26E | 2026E | 2027E | 2028E | |||||||||
| Euro m | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max |
| Gross written premiums | 27,077 | 27,731 | 28,200 | 97,215 | 101,737 | 103,370 | 100,558 | 105,870 | 109,067 | 104,048 | 109,908 | 115,439 |
| Life written premiums | 16,343 | 16,834 | 18,014 | 62,588 | 63,904 | 64,800 | 64,275 | 66,064 | 68,323 | 65,734 | 68,260 | 72,191 |
| P&C written premiums | 10,092 | 10,904 | 11,200 | 34,627 | 37,874 | 38,570 | 36,283 | 39,873 | 40,845 | 38,027 | 41,764 | 43,295 |
| Group operating result | 1,868 | 2,043 | 2,245 | 8,332 | 8,572 | 8,793 | 8,853 | 9,118 | 9,447 | 8,871 | 9,558 | 10,081 |
| Life operating result | 965 | 1,025 | 1,113 | 4,253 | 4,357 | 4,462 | 4,483 | 4,561 | 4,687 | 4,520 | 4,742 | 4,964 |
| P&C operating result | 830 | 955 | 1,130 | 3,803 | 3,949 | 4,086 | 4,027 | 4,231 | 4,462 | 4,137 | 4,456 | 4,851 |
| o/w Op. Insurance Service Result | 656 | 772 | 940 | 2,711 | 2,852 | 2,941 | 2,901 | 3,088 | 3,228 | 2,977 | 3,278 | 3,536 |
| o/w Op. Investment Result | 141 | 183 | 275 | 1,004 | 1,097 | 1,189 | 1,012 | 1,144 | 1,253 | 1,012 | 1,179 | 1,315 |
| A&WM operating result | 279 | 292 | 340 | 1,178 | 1,256 | 1,359 | 1,247 | 1,330 | 1,445 | 1,186 | 1,396 | 1,542 |
| H&O operating result | -175 | -146 | -130 | -700 | -586 | -520 | -740 | -589 | -500 | -770 | -593 | -490 |
| Consolidation adjustment | -100 | -79 | -67 | -418 | -403 | -360 | -439 | -416 | -356 | -469 | -430 | -349 |
| Net result | 915 | 1,095 | 1,250 | 4,313 | 4,615 | 4,852 | 4,651 | 4,986 | 5,318 | 4,796 | 5,269 | 5,707 |
| Adjusted net result | 946 | 1,111 | 1,320 | 4,298 | 4,648 | 4,803 | 4,656 | 5,012 | 5,216 | 4,801 | 5,293 | 5,601 |
| Dividend per share (€) | - | - | - | 1.75 | 1.79 | 1.82 | 1.90 | 1.96 | 2.02 | 2.03 | 2.12 | 2.24 |
| Shareholders' equity | 31,792 | 32,695 | 33,981 | 32,408 | 33,908 | 36,782 | 34,243 | 35,762 | 38,920 | 35,842 | 37,649 | 40,447 |
| Life CSM | 32,792 | 33,494 | 34,019 | 34,076 | 34,643 | 35,136 | 35,343 | 36,005 | 36,887 | 36,519 | 37,429 | 38,714 |
| Solvency ratio (%) | 210 | 214 | 218 | 210 | 220 | 236 | 222 | 238 | 267 | 227 | 247 | 285 |
| Combined ratio (%) | 90.1 | 91.7 | 92.3 | 91.7 | 92.2 | 92.7 | 91.5 | 92.0 | 92.5 | 91.4 | 91.9 | 92.6 |
| Undiscounted Combined ratio (%) | 92.3 | 94.0 | 94.7 | 93.5 | 93.9 | 94.4 | 93.3 | 93.7 | 94.1 | 93.1 | 93.6 | 94.2 |
| Loss Ratio (%) | 61.0 | 62.8 | 65.3 | 62.4 | 63.2 | 64.7 | 62.3 | 63.1 | 64.6 | 62.4 | 63.1 | 64.5 |
| o/w Nat Cat | 2.0 | 3.5 | 5.0 | 2.5 | 2.9 | 4.0 | 2.6 | 2.8 | 3.0 | 2.6 | 2.8 | 3.0 |
| o/w PYD | -4.9 | -2.8 | -1.7 | -2.8 | -2.2 | -1.7 | -2.5 | -2.1 | -1.8 | -2.5 | -2.1 | -1.8 |
| Life New Business Value | 802 | 875 | 967 | 3,077 | 3,267 | 3,385 | 3,136 | 3,455 | 3,626 | 3,196 | 3,606 | 3,835 |
| Life PVNBP | 14,982 | 17,513 | 18,688 | 55,955 | 57,936 | 61,000 | 57,026 | 60,248 | 64,050 | 58,117 | 62,586 | 67,253 |