GENERALI GROUP
FIRST HALF 2023
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). Starting from 1Q23 the bancassurance JVs of Cattolica (Vera and BCC companies) are considered a 'disposal group held for sale' under IFRS 5 and therefore their results are reclassified in the Result of discontinued operations. Consequently, the Group Results 1H22 presented last year have been restated. 1H22 numbers for PVNBP, NBV and NBM are restated
under IFRS17 accounting rules and 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
KEY MESSAGES
Increase in Gross Written Premiums driven by significant P&C growth
Excellent growth in Operating Result and Adjusted earnings
Extremely solid capital position, further supported by capital generation
Key strategic acquisitions both in insurance and asset management
Fully on track to deliver "Lifetime Partner 24: Driving Growth" targets, halfway through plan execution
5
STRONG GROWTH IN OPERATING RESULT AND EARNINGS, WITH EXTREMELY SOLID CAPITAL POSITION
Operating Result (€ m) | Adjusted Net Result¹ (€ m) | Solvency Ratio (%) |
+28.0% | |
3,721 | |
2,907 | |
1H22 | 1H23 |
P&C Premiums² (€ m) | |
+10.6% | |
14,487 | 16,349 |
1H22 | 1H23 |
+60.9% | |
2,330 | |
1,448 | |
1H22 | 1H23 |
Life New Business Margin² (%)
+31 bps
5.50 | 5.81 |
1H22 | 1H23 |
+7 p.p.
221 | 228 |
FY22 | 1H23 |
P&C Combined Ratio (%)
-5.4 p.p. | |
97.0 | 91.6 |
1H22 | 1H23 |
- The 1H22 figure also reflects the impact from € 97 m in impairments on Russian fixed-income instruments
- Changes in P&C Premiums and Life New Business Margin are presented on equivalent terms (at constant exchange rates and consolidation scope)
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Assicurazioni Generali S.p.A. published this content on 09 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2023 11:15:22 UTC.