Annual General Meeting 2024

The ordinary and extraordinary Annual General Meeting of Assicurazioni Generali S.p.A. was held on 24 April under the chairmanship of Andrea Sironi. The event took place through live video streaming in the historic Palazzo Berlam.

In his introductory speech, Chairman Andrea Sironi said: “I would like to thank all my colleagues on the Board for their great teamwork, for their constructive encouragement, and for the support and guidance given to the management during this very intense period, and especially in this particularly crucial phase in the implementation of the ‘Lifetime Partner 24: Driving Growth’ strategic plan, during which very significant operations were completed.’’ These operations were also made possible by “a renewed spirit of cooperation within the Board, a shared vision between the Board and management, and a strong cohesion in pursuing the Group's objectives”, he concluded before leaving the floor to the Group CEO and Group CFO.

“2023 saw us successfully execute on our plan and the process of sustainable and profitable growth of Generali”, said Generali Group CEO Philippe Donnet, commenting on the Company’s most recent results. “The high quality of this performance also allows us to offer you a dividend of 1.28 euros per share, with a significant growth of 10.3% compared to the previous year,” he added, thanking the Group’s 82 thousand colleagues and 164 thousand agents for their work in 2023 and expressing his gratitude for the support and trust shown by the Company’s Shareholders.

In conclusion to his report on financial statements and asset management, Group CFO Cristiano Borean commented: “The results achieved in 2023 confirm Generali’s very positive performance with continued growth in premium, with significant P&C increase, record operating and net results, a growing cash generation and a solid capital position. Thanks to all of this and confirming the Group’s focus on shareholders remuneration, we are submitting for your approval a proposal for a double-digit growth in dividend per share and an additional buyback of 500 million.’’

The Annual General Meeting approved the 2023 Financial Statements as disclosed to the public, which closed with a net profit of € 1,446 million, setting forth the distribution of a dividend of € 1.28 per share to shareholders, to be paid as from 22 May 2024.

The share buy-back scheme for the purposes of cancelling own shares was also approved, as part of the implementation of the 2022-24 strategic plan in relation to the capital management policy for a total disbursement of up to € 500,000,000 and for a maximum number of shares representing 3% of the Company’s share capital. This buyback programme aims to provide shareholders with remuneration in addition to the distribution of dividends.

Furthermore, the Annual General Meeting approved, in an extraordinary session, amendments to the Articles of Association, mainly to keep it in line with market best practices and current legislation, as well as those related to Article 9.1 concerning the shareholders’ equity items of the Life and the Property & Casualty businesses.

The Annual General Meeting went on to approve the Report on the Remuneration Policy and expressed a non-binding positive resolution on the Report on payments.

Finally, the Annual General Meeting approved the Group Long Term Incentive Plan (LTIP) 2024-2026, authorizing the purchase of its own shares to make them available to service the remuneration and incentive plans for a maximum 10.5 million shares.

Further information is available in the press release.