Generali/2025/FY/Financial supplement: Difference between revisions

''Generali FY2025 financial supplement.''

 

 

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|+ Consolidated operating and non-operating result build-up for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | '''Consolidated operating result'''

 

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|+ Adjusted net result build-up for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | Profit or loss on assets at FVTPL on non-par & SH fund

 

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|+ Adjusted EPS and share data for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | Closing number of shares

* ⁽²⁾ Adjusted EPS is equal to the ratio of Group adjusted net result, including interest expenses related to Restricted Tier 1 debt classified as shareholders’ equity, to the weighted average number of ordinary shares outstanding, net of weighted average treasury shares.

 

 

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|+ Consolidated operating and non-operating result breakdown by segment for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

|-

! style="text-align:left" | —

|-

| style="text-align:left" | '''Consolidated operating result'''

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! style="text-align:left" | EUR million

! colspan="2" style="text-align:center" | Group

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Intangible assets

 

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! style="text-align:left" | EUR million

! colspan="2" style="text-align:center" | Group

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Gross present value future cash-flows (PVFCF) (2)

* ⁽³⁾ CSM presented net of reinsurance, taxes and minorities

 

 

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|+ Gross written premium and reinsurance accepted breakdown by geography and line of business for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

! colspan="3" style="text-align:center" | Reinsurance accepted

|-

! colspan="3" style="text-align:center" | P&C

! colspan="3" style="text-align:center" | Motor

! colspan="3" style="text-align:center" | P&C

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Italy

 

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|+ Gross written premium and reinsurance accepted breakdown by geography and line of business for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

! colspan="3" style="text-align:center" | Reinsurance accepted

|-

! style="text-align:left" |

! colspan="3" style="text-align:center" | Life

! colspan="3" style="text-align:center" | Life

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Italy

 

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|+ Life net inflows time series by geography for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Italy

 

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|+ Life net inflows breakdown by product type for fiscal year 2025

! style="text-align:left" |

|-

! style="text-align:left" | EUR million

|-

| style="text-align:left" | '''Total group'''

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! style="text-align:left" | EUR million

! colspan="2" style="text-align:center" | PVNBP

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Traditional saving

 

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! style="text-align:left" | EUR million

! colspan="2" style="text-align:center" | Group

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Annual premiums

 

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|+ Life new business value build-up for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

|-

! style="text-align:left" | —

|-

| style="text-align:left" | '''New business CSM'''

 

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! style="text-align:left" | EUR million

! colspan="2" style="text-align:center" | PVNBP

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Italy

 

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! style="text-align:left" | EUR million

|-

| style="text-align:left" | Interest rate -50 bps

 

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! style="text-align:left" | EUR million

|-

| style="text-align:left" | Interest rate -50 bps

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|+ Contractual service margin (CSM) rollforward for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

|-

! style="text-align:left" | —

|-

| style="text-align:left" | '''Opening CSM'''

 

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! style="text-align:left" | EUR million

! style="text-align:center" | CSM stock

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Italy

 

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! style="text-align:left" | EUR million

|-

| style="text-align:left" | Insurance contracts issued

 

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! style="text-align:left" | EUR million

|-

| style="text-align:left" | Equity market -25%

* ⁽³⁾ The impact reflects the change implied by a 50 bps spread widening of sovereign bonds issued by Euro area countries.

 

 

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|+ Life operating result build-up for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

|-

! style="text-align:left" | —

|-

| style="text-align:left" | '''Operating insurance service result'''

 

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|+ Life operating result breakdown by geography for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Italy

* ⁽¹⁾ Including elimination of transactions between Generali Group companies in different geographic regions

 

 

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! style="text-align:left" | EUR million

! colspan="2" style="text-align:center" | Group

|-

! style="text-align:left" | —

|-

| style="text-align:left" | '''Operating insurance service result'''

 

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! style="text-align:left" | EUR million

|-

| style="text-align:left" | '''Combined ratio'''

 

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! style="text-align:left" | EUR million

! colspan="2" style="text-align:center" | Insurance contract revenues

! colspan="2" style="text-align:center" | Loss ratio

! colspan="2" style="text-align:center" | Natural catastrophe losses undiscounted

! colspan="2" style="text-align:center" | Combined ratio undiscounted

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Italy

* ⁽¹⁾ Elimination of transactions between Generali Group companies in different geographic regions were included in absolute values and excluded in ratios

 

 

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|+ Assets under management (AUM) rollforward for fiscal years 2024 and 2025

! style="text-align:left" | EUR billion

|-

| style="text-align:left" | '''Opening AUM'''

 

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|+ Asset management operating result build-up for fiscal years 2024 and 2025

! style="text-align:left" | EUR billion

! style="text-align:center" |

! style="text-align:center" | Pro-forma with 12 months of CHL

|-

! style="text-align:left" | —

|-

| style="text-align:left" | '''Operating revenues'''

 

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! style="text-align:left" | EUR billion

! style="text-align:center" |

! style="text-align:center" |

! style="text-align:center" | Pro-forma w/ 12 months of CHL

|-

! style="text-align:left" | —

|-

| style="text-align:left" | '''Average AUM (euro bn)'''

* ⁽⁶⁾ MGG fully consolidated starting from October 2025

 

 

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|+ Shareholders' equity rollforward for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | '''Opening shareholders' equity'''

 

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! style="text-align:left" | EUR million

|-

| style="text-align:left" | Subordinated debt

 

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! style="text-align:left" | EUR million

|-

| style="text-align:left" | 2026

* ⁽¹⁾ These KPIs exclude bond issuances classified as shareholders’ equities, such as RT1 bonds and AT1 bonds.

 

 

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|+ Total investments breakdown by type and segment for fiscal years 2024 and 2025

! style="text-align:left" | EUR million

! colspan="2" style="text-align:center" | Property & Casualty

! colspan="2" style="text-align:center" | Asset & Wealth Management

! colspan="2" style="text-align:center" | Consolidation

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Fixed income

 

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! style="text-align:left" | EUR million

! colspan="2" style="text-align:center" | Group

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Current income

* ⁽⁵⁾ In P&C, excluding Argentina on a like for like basis, Fixed Income generated current returns for 1,104 Mln (3.2%) in FY25 compared with 1,001 Mln (3.0%) in FY24, while the total portfolio generated current returns for 1,777 Mln (3.7%) in FY25 versus 1,644 Mln (3.5%) in FY24.

 

 

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! style="text-align:left" | EUR million

! colspan="6" style="text-align:center" | Group

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Fixed income

* ⁽³⁾ Includes derivative accounted as liabilities of € 2.398 mln as at YE 2025 and of € 2,718 mln as at YE 2024.

 

 

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|+ Equity and equity-like investments breakdown by type and segment for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | Financial

 

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|+ Direct equities breakdown by geography and segment for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | Italy

 

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! style="text-align:left" | EUR million

|-

| style="text-align:left" | '''Equities'''

* ⁽²⁾ Without recycling to P&L.

 

 

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|+ Fixed income investments breakdown by rating and segment for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | AAA

 

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|+ Fixed income investments breakdown by geography and segment for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | Italy

 

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! style="text-align:left" | EUR million

|-

| style="text-align:left" | '''Government bonds'''

 

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|+ Duration of government bonds by life and P&C for fiscal year 2025

! style="text-align:left" | EUR million

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Duration

 

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|+ Fixed income breakdown by rating, group, life, and P&C for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | AAA

 

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|+ Fixed income breakdown by rating, corporate financial, and corporate non financial for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | AAA

 

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|+ Fixed income breakdown by sector, group, life, and P&C for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | Financials

 

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|+ Fixed income breakdown by geography, corporate financial, and corporate non financial for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | Italy

 

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|+ Corporate bonds by amortised cost and fair value for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | '''Corporate bonds'''

 

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|+ Duration of corporate bonds by life and P&C for fiscal year 2025

! style="text-align:left" | EUR million

|-

! style="text-align:left" | —

|-

| style="text-align:left" | Duration

 

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|+ Indirect investments in fixed income by group, life, and P&C for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | Indirect investments in fixed income

 

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|+ Investments breakdown by accounting treatment for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | '''Total'''

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|+ Real estate investments breakdown by valuation method for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | Investment properties

 

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|+ Real estate investments breakdown by geography for fiscal year 2025

! style="text-align:left" | EUR million

|-

| style="text-align:left" | Italy

 

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|+ Real estate investments breakdown by property type for fiscal year 2025

! style="text-align:left" | %

|-

| style="text-align:left" | Office

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|+ Solvency II ratio rollforward for fiscal years 2024 and 2025

! style="text-align:left" | EUR billion

|-

| style="text-align:left" | '''Opening FY 2024'''

 

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|+ Solvency II ratio sensitivity to market shocks for fiscal year 2025

! style="text-align:left" | %

|-

| style="text-align:left" | Equity market -25%

 

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|+ Group own funds build-up for fiscal year 2025

! style="text-align:left" | EUR billion

|-

| style="text-align:left" | '''Group shareholders' equity'''