Generali, the Non-Life sector is growing, up by 28.6 billion
The insurance giant generals ended 2022 beating market expectations: theuseful recorded was 2.912 billion euros, up 2.3% on 2021. The dividing it rises to 1.16 euro per share, up by 8.4%, for a total disbursement of 1.79 billion euro. But the other data are also positive: the prize collection is 81.5 billion euro (+1.5%), with gross premiums in Life sector to 52.9 billion (-2.4%), net life inflows of 8.7 billion euro (-36.1%), gross premiums in Danni of 28.6 billion (+9.8%).
Il Operating income it is up by 11.2% to 6.5 billion euro, with +25.1% for Life to 3.522 billion and +1.7% for non-life to 2.696 billion. In the’Asset & Wealth management the result fell by 9.6% to 972 million. The non-operating result was a negative €1.7 billion (-1.3% in 2021) and reflects in particular €511 million in write-downs on classified investments as available for sale, including Russian investments. The Group’s Assets under management amounted to 618 billion (-12.9%).
In the non-life sector the Combined Ratio it stands at 93.2%, up by 2.4 points, mainly due to a higher loss ratio. There patrimonial situation presents a Solvency Ratio of 221% (227% in 2021). Normalized capital generation is solid at 4.1 billion euros (3.8 in 2021), with net generation for the Holding of 2.9 billion.
Generali, Donnet: “The 2022 figures successfully confirm our transformation path”
“Generali’s results confirm the success of our transformation journey, which is continuing with the disciplined and effective implementation of the ‘Lifetime Partner 24: Driving Growth’ strategy. Thanks to a clear vision of the Group’s positioning as a global leader in the insurance and asset management sector, we are in line to rachieve goals and ambitions of our strategic plan, pursuing sustainable growth which, even in a context characterized by exceptional geopolitical and economic challenges, creates value for all our stakeholders”, said the CEO of Generali, Philippe Donnet, commenting on the results of the 2022.
“This allows us, added Donnet, to propose to the our shareholders a further growing dividend, thanks to the constant increase in profits and the strong equity and financial position of the Group. Generali also continues to be a leader in sustainability, now fully integrated into all our businesses, in line with our commitment to act as a responsible insurer, investor, employer and corporate citizen.”
Meanwhile, the General group confirms all the objectives of the strategic plan to 2024. In particular, states a note, “the group intends to pursue sustainable growth, improve the profit profile and drive innovation in order to achieve a compound annual rate of profit growth per share in the period 2021-2024 between 6% and 8%, generate net cash flows available at Parent Company level in the period 2022-2024 higher than 8.5 billion and distribute to shareholders cumulative dividends in the period 2022-2024 for an amount between 5.2 and 5.6 billion euros, with a ratchet on the dividend per share“.
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