Generali reveals ‘best-ever’ operating result

Generali reveals ‘best-ever’ operating result

International insurance group Generali, headquartered in Italy, has announced its full-year 2022 results, revealing that it has posted its best-ever operating result.

Among the key financial figures released, Generali showed gross written premiums (GWP) growth of 1.5% year-on-year to €81.5 billion (approx. US$87.49 billion), versus €75.8 billion in 2021. This was supported by strong P&C growth (+9.8%), led by Non-Motor. The insurer posted a record €6.5 billion in operating profit in 2022 (up 11.2% year-on-year), mainly driven by the life and growth of P&C.

While Generali’s combined ratio rose by 2.4 percentage points to 93.2% over the period, the health new business margin was 5.35% (up 0.86 percentage points year-on-year) and net income increased to 2,912 million euros ( +2.3% yoy). in the year). The insurer also highlighted its very solid capital position, with a solvency ratio of 221% (compared to 227% in FY2021).

In a profit announcement, Generali indicated that the proposed dividend per share of €1.16 (+8.4%) confirms the group’s focus on shareholder returns.

Group CEO breaks down the numbers

Commenting on the results, Philippe Donnet, CEO of Generali Group, said: “Generali’s results validate the success of our transformation journey, which continues through the disciplined and effective implementation of the ‘Lifetime Partner 24: Driving Growth’ strategy.”

He added that Generali, driven by a clear vision to position the group as the world’s leading insurance and wealth management company, is on track to achieve the goals and ambitions of its strategic plan and to achieve sustainable growth to create value for all to create its interest groups.

“Generali continues to be a leader in sustainability,” he said, “now fully integrated into all Group business activities, in line with our commitment to act as a responsible insurer, investor, employer and corporate citizen. We have achieved all of this thanks to the passion of our people and our unique network of agents.”

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