Generali : Presentation of Results at 31 December 2022
March 14, 2023 at 02:45 am
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GENERALI GROUP 2022 RESULTS
The like for like change of written premiums and Life net cash inflows is on equivalent terms (on equivalent exchange rates and consolidation area). Operating Result, Asset Under Management and Life technical provisions exclude assets under disposals or disposed during the period, if any. 2021 numbers for PVNBP, NBV and NBM are
presented on historical basis, without excluding asset disposals. The like for like changes are on equivalent terms.
2
AGENDA
01 Strategy overview
02 Group financials
03 Backup
04
STRATEGY OVERVIEW
PHILIPPE DONNET
GROUP CHIEF EXECUTIVE OFFICER
4
STRONG START TO 'LIFETIME PARTNER 24: DRIVING GROWTH' PLAN
Best ever Operating Result with continued growth in premiums and Net Result
Higher proposed dividend underpinned by strong cash and capital position
Disciplined execution of strategy with key financial and customer loyalty targets on track
Effective inflation fighting programme in place with focus on P&C, operations and investments
Sustainability fully embedded as a responsible insurer, investor, employer and corporate citizen
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SOLID PERFORMANCE WITH CONTINUED GROWTH IN THE OPERATING RESULT AND A STRONG CAPITAL POSITION
Operating Result (€ m)
Net Result¹ (€ m)
Solvency Ratio (%)
+11.2%
5,852
6,509
2021
2022
P&C Premiums² (€ m)
+9.8%
24,145
28,636
2021
2022
+2.3%
2,847
2,912
2021
2022
Life New Business Margin² (%)
+86 bps
4.52
5.35
2021
2022
-6 p.p.
227
221
2021
2022
P&C Combined Ratio³ (%)
+2.4 p.p.
90.8
93.2
2021
2022
Excluding the impact of impairments on Russian investments, the Net Result would have grown to €3,066m
Changes in P&C premiums and Life New Business Margin are presented on equivalent terms (at constant exchange rates and consolidation scope)
Excluding Argentina, the Group Combined Ratio would have been 92.6%
Assicurazioni Generali S.p.A. published this content on 14 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 March 2023 06:44:09 UTC.
Assicurazioni Generali S.p.A. is the largest Italian insurance group. Gross earned premiums break down by activity as follows:
- life insurance (62.3%);
- non-life insurance (37.7%): automobile insurance, commercial and industrial, personal, and accident-health.
The group also develops asset management activities (EUR 655.8 billion of assets managed at the end of 2023), bank management (Banca Generali) and real estate management.