Generali strengthened in the first quarter: stable capital position and growth in operating profit

By: Trademagazin Date: 2025. 05. 22. 09:10

Generali Group delivered a robust performance in the first quarter of 2025, with operating result up 8.9% to €2.07 billion, supported by all business segments: Life, P&C, and Asset Management. The insurer also confirmed its solid capital position with a stable Solvency II ratio of 210%.

Life and P&C drive performance, focus remains on protection and health

The Life segment’s operating result rose by 2.3% to €992 million, with net inflows surging 30.4% to €3.0 billion. The Protection & Health segment stood out with a 10.5% growth trajectory.

In the Property & Casualty segment, gross written premiums increased by 8.6% to €10.4 billion, driven especially by strong Non-Motor lines. The Combined Ratio improved to 89.7%, and the operating result climbed 18.7% to €1.03 billion.

Asset & Wealth Management sees steady increase

Operating result in the Asset & Wealth Management segment grew by 3.3% to €272 million, with consolidation of Conning Holdings Limited (CHL) playing a key role. Banca Generali recorded €1.5 billion in net inflows, though the overall result declined slightly to €146 million due to lower performance fees.

Strong equity base, bold growth ambitions

Shareholders’ equity increased to €31.1 billion (+2.4%), while total assets under management stood at €858 billion. Generali’s new strategic plan, Lifetime Partner 27: Driving Excellence, targets 8–10% annual EPS growth, over €11 billion in cumulative net cash generation, and a share buyback programme of at least €1.5 billion through 2027.

Generali’s first-quarter results underscore its resilience in a shifting macroeconomic environment and its ability to generate long-term value by focusing on customer-centric innovation and profitable growth.