Strategy

As a leading global Insurance and asset management player, Generali keeps moving forward in pursuit of Excellence

During the Investor Day that took place on 30th January 2025, Generali launched the Group’s new three-year strategy Lifetime Partner 27: Driving Excellence.

Building on our strong foundations as a leading global Insurance and asset management player, we keep moving forward in pursuit of Excellence: excellence in our Ambition to be a Lifetime Partner to our more than 71 million customers worldwide; excellence in offering innovative solutions to meet evolving needs in a rapidly changing world, combining new technologies with human touch; and excellence in our operations, to create value for all stakeholders.

We want to reaffirm our leadership in terms of profitability and growth, going even further to meet the evolving needs of our customers, doubling down on our AI & Data efforts, and maintaining our deep-rooted commitment to sustainability thanks to our People and network of 165,000 Advisors.

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"Thanks to our ‘Lifetime Partner 27: Driving Excellence’ plan, we will further enhance excellence across our customer relationships, our Group operating model and our core capabilities. We will invest in AI, new technologies and upskilling our employees to capture opportunities from emerging trends, fast-changing customer expectations and a rapidly evolving market."

Philippe Donnet, Generali Group CEO
 

The Lifetime Partner 27: Driving Excellence strategic plan sets out a clear vision for Generali in 2027. Our focus is clear: driving excellence in everything we do, building on three strategic priorities:

  • Excellence in customer relationships
  • Excellence in core capabilities
  • Excellence in our Group operating model

Our plan will be enabled by the powerful combination of three strategic foundations:

  • People-powered excellence: our business, and our plan, is people powered.
  • AI & Data driven excellence: we are doubling down on our AI & Data efforts.
  • Sustainability rooted excellence: we maintain our commitment to sustainability.

Lifetime Partner 24: Driving Growth

Ambitious 2024 targets based on sustainable growth:

Strong earnings growth: 6% - 8% EPS CAGR range (2021-24)
Robust EPS growth driven by:

  • Higher growth in P&C and ongoing transformation of Life portfolio, supported by continuous expense optimization
  • Sustained revenue growth in Asset Management
  • Increased contribution from high quality technical and fee earnings
  • Effective capital redeployment


Increased cumulative net Holding cash flow: > € 8.5 billion (2022-24)
To be achieved through:

  • Growing recurring cash remittances underpinned by solid capital generation
  • Continued implementation of disciplined Group Capital Management Framework, enabled by resilient Solvency position


Higher dividend: cumulative € 5.2 - 5.6 billion cash dividends (2022-24) vs € 4.5 billion (2019-21)
To be achieved by:

  • Boosting P&C revenues and maintain best-in-class technical margins
  • Growing capital light business, technical profits and ESG product range
  • Underpinning growth with effective cost management


Key highlights of the new strategic plan

Drive sustainable growth

  • Improve market share in segments with significant growth potential – SMEs, Senior Care in Europe and Travel in the US
  • Seize growth opportunities offered by health protection gap thanks to our leadership in core markets
  • Drive Unit Linked business volumes and further internalize margins
  • Boost protection as a de-risking tool for investment solutions
  • Expand ESG solutions proposition
  • Maintain cost discipline in mature insurance markets
  • Focus investments in Asia and fee businesses


Enhance earnings profile

  • Undertake comprehensive in-force optimization to reduce capital intensity and improve operating result
  • Enhance strategic asset allocation, integrate ESG and leverage real asset platform to improve returns
  • Reinforce leadership in Europe and strengthen presence in selected Asian markets
  • Invest in selected Asset Management capabilities and build scale to accelerate 3rd party growth
  • Expand real asset capabilities building an in-house private debt proposition to improve risk-adjusted returns and fee margin
  • Upscale distribution platform to drive organic growth in 3rdparty revenues


Lead innovation

  • Increase customer value by scaling digitally-enabled advisory model
  • Establish seamless omni-channel approach across distribution channels
  • Gain share of European digital profit pool by scaling direct operations
  • Leverage new data capabilities to improve technical leadership and offer value-added services through digital ecosystems
  • Develop powerful and sustainable innovation engine to support future growth
  • Reduce costs through digitization, core process automation and shared platforms
  • Optimize further claims management using Artificial Intelligence