Consolidated Results as of 31 December 2022
Generali achieves its best ever operating result with continued growth in premiums and net result, while maintaining its extremely solid capital position
Generali Group CEO Philippe Donnet presents the 2022 full-year financial results. Notwithstanding a volatile external context, both from a geopolitical and economic perspective, with these results, the Group confirms all the targets of its ‘Lifetime Partner 24: Driving Growth’ strategic plan. The plan is focused on strong financial performance, best-in-class customer experience and an even greater social and environmental impact, delivered thanks to the efforts and dedication of Generali’s employees.
- Gross written premiums of €81.5 billion (+1.5%), with strong P&C growth (+9.8%), led by non-motor. Resilient Life net inflows of €8.7 billion, entirely focused on unit-linked and protection, consistent with the Group strategy
- Record operating result at €6.5 billion (+11.2%), mainly driven by Life, together with P&C growth. Combined Ratio at 93.2% (+2.4 p.p.). New Business Margin excellent at 5.35% (+0.86 p.p.)
- Net result grew to €2,912 million (+2.3%)
- Extremely solid capital position, with the Solvency Ratio at 221% (227% FY2021)
- The proposed dividend per share of €1.16 (+8.4%) confirms the Group’s focus on shareholder returns
Generali Group CEO, Philippe Donnet, said: “Generali’s results confirm the success of our transformation journey, which continues through the disciplined and effective implementation of the ‘Lifetime Partner 24: Driving Growth’ strategy. Powered by a clear vision to position the Group as a global leader in insurance and asset management, we are on track to achieve the targets and ambitions of our strategic plan, delivering sustainable growth to create value for all our stakeholders, even in a challenging geopolitical and economic context. This has enabled us to propose to our shareholders, once again, an increased dividend, thanks to continued earnings growth and the Group’s strong cash and capital position. Generali also continues to lead the way in sustainability, now fully integrated within all the Group’s 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 agent network.”
Sustainability, the originator of our plan, continues to drive all of our actions as a responsible insurer, investor, employer and corporate citizen.
Being a responsible corporate citizen means supporting communities when they need it the most. This was clearly expressed through the generosity of our People who contributed to supporting Ukrainian families in the aftermath of the Russian invasion and the communities impacted by the recent earthquake in Turkey and Syria.
In this important year for the implementation of our Group strategy, we move ahead with confidence thanks to the commitment and efforts of our People, without whom the results presented today could not have been possible.
Discover more on the consolidated results as of 31 December 2022 in the full press release.