HC ROI
The Return on Investment in our People
The Return on Investment in our People is an indicator calculated in accordance with the requirements of international sustainability indices. The data table below serves as a supplement to the financial information reported in our Group Annual Integrated Reports, which includes Operating Result, providing information on total revenues (a), operational expenses (b) and employee-related expenses (d).
| € mln | FY2022 | FY2023 | FY2024 | FY2025 | |
| a | Total Revenue (€) (1) | 49,992 | 49,574 | 54,447 | 57,253 |
| b | Total Operating Expenses (€) (2) | 43,618 | 42,695 | 47,152 | 49,179 |
| c = a - b | Operating result | 6,374 | 6,879 | 7,295 | 8,074 |
| d | Total employee-related expenses (salaries + benefits) (€) (3) |
5,260 | 5,458 | 5,981 | 6,320 |
| e = (c + d) / d | HC ROI | 2.21 | 2.26 | 2.22 | 2.28 |
Note:
The figures for FY 2022 and FY 2023 were presented under the new IFRS 17 and IFRS 9 accounting standards.
(1) Total revenue under IFRS 4 are equal to net earned premiums. Under IFRS 17 starting from FY 2024 are equal to insurance revenue, fee and commission income from financial service activity and other income. Comparative FY 2023 has been restated accordingly.
(2) Total operating expenses under IFRS 4 are equal to the operating result net of net earned premiums, while under IFRS 17 are insurance claims and expenses, operating holding expenses, other operating expenses and operating investment result.
(3) Total employee-related expenses excluding non-operating costs.