Generali consensus FY24 and 2025-2027 Results
Last update: 6 March 2025
| 2024E | 2025E | 2026E | 2027E | |||||||||
| (Euro m) | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max | Min | Avg | Max |
| Gross written premiums | 91,000 | 94,211 | 96,124 | 95,125 | 98,770 | 103,198 | 99,198 | 103,139 | 109,619 | 101,839 | 107,580 | 116,476 |
| Life written premiums | 57,506 | 60,754 | 62,147 | 59,866 | 63,132 | 65,875 | 62,334 | 65,502 | 69,827 | 64,017 | 67,905 | 74,017 |
| P&C written premiums | 33,128 | 33,472 | 34,232 | 34,620 | 35,635 | 37,323 | 36,047 | 37,652 | 39,791 | 37,541 | 39,695 | 42,459 |
| Group operating result | 6,989 | 7,231 | 7,434 | 7,723 | 7,916 | 8,109 | 8,075 | 8,413 | 8,629 | 8,488 | 8,902 | 9,377 |
| Life operating result | 3,820 | 4,007 | 4,098 | 3,963 | 4,181 | 4,380 | 4,134 | 4,364 | 4,550 | 4,148 | 4,563 | 4,730 |
| P&C operating result | 2,896 | 2,979 | 3,084 | 3,257 | 3,429 | 3,567 | 3,459 | 3,706 | 3,866 | 3,783 | 3,934 | 4,185 |
| A&WM operating result | 1,071 | 1,132 | 1,210 | 1,058 | 1,194 | 1,301 | 1,005 | 1,238 | 1,496 | 1,127 | 1,314 | 1,720 |
| H&O operating result | -500 | -473 | -438 | -515 | -464 | -400 | -535 | -465 | -400 | -567 | -470 | -400 |
| Consolidation adjustment | -468 | -415 | -382 | -477 | -423 | -360 | -506 | -429 | -338 | -536 | -439 | -328 |
| Net result | 3,641 | 3,825 | 4,008 | 3,917 | 4,186 | 4,382 | 4,225 | 4,580 | 5,303 | 4,615 | 4,937 | 6,472 |
| Adjusted net result | 3,531 | 3,759 | 3,919 | 3,973 | 4,192 | 4,352 | 4,281 | 4,516 | 4,752 | 4,635 | 4,816 | 5,214 |
| Dividend per share (€) | 1.38 | 1.40 | 1.45 | 1.44 | 1.54 | 1.60 | 1.52 | 1.68 | 1.77 | 1.62 | 1.83 | 1.98 |
| Shareholders' equity | 29,850 | 30,689 | 33,359 | 31,276 | 32,437 | 35,213 | 32,605 | 34,413 | 38,929 | 33,971 | 36,446 | 43,533 |
| Life CSM | 30,622 | 31,255 | 32,499 | 31,377 | 32,459 | 34,153 | 32,199 | 33,856 | 35,886 | 32,945 | 35,367 | 37,708 |
| Solvency ratio (%) | 205 | 211 | 215 | 212 | 217 | 226 | 213 | 224 | 252 | 215 | 232 | 266 |
| Combined ratio (%) | 93.7 | 94.0 | 94.6 | 92.6 | 93.1 | 93.6 | 92.4 | 92.8 | 93.3 | 92.0 | 92.5 | 93.1 |
| Undiscounted Combined ratio (%) | 95.4 | 95.8 | 96.4 | 94.4 | 94.9 | 95.4 | 93.9 | 94.5 | 94.8 | 93.6 | 94.2 | 94.5 |
| Life New Business Value | 2,270 | 2,326 | 2,469 | |||||||||
| Life PVNBP | 47,161 | 50,800 | 55,000 | |||||||||
Note: the average number of shares outstanding during FY24 has been 1,538,690,704.
Life New Business estimates were not collected for 2025-27 due to upcoming change in methodology.