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

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Line 131:
| style="text-align:right" | -17
|-
|+ Adjustedstyle="text-align:left" EPS| and'''Adjusted sharenet dataresult for(footnote: fiscal years 2024 and 2025 {{footnote|1=Adjusted net result and EPS definitions include adjustments for: I.}}) volatility effects deriving from the valuation at fair value through profit or loss (FVTPL) of investments not backing portfolios with direct profit participation and the free assets II)) Hyperinflation effect under IAS 29 III)) amortisation of intangibles from M&A transactions (business combinations under IFRS 3(footnote: CSM presented net of reinsurance, taxes and minorities) excluding those connected to brands, technology and bancassurance or equivalent distribution agreement, if material IV)) impact of gains and losses from acquisitions and disposals, including possible restructuring costs incurred during the first year from the acquisition, if material)'''▼
| style="text-align:left" | '''Adjusted net result (1)'''
| style="text-align:right" | '''3,769'''
| style="text-align:right" | '''4,315'''
Line 143:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Adjusted EPS and share data for fiscal years 2024 and 2025
▲|+ Adjusted EPS and share data for fiscal years 2024 and 2025 {{footnote|1=Adjusted net result and EPS definitions include adjustments for: I.}} volatility effects deriving from the valuation at fair value through profit or loss (FVTPL) of investments not backing portfolios with direct profit participation and the free assets II) Hyperinflation effect under IAS 29 III) amortisation of intangibles from M&A transactions (business combinations under IFRS 3) excluding those connected to brands, technology and bancassurance or equivalent distribution agreement, if material IV) impact of gains and losses from acquisitions and disposals, including possible restructuring costs incurred during the first year from the acquisition, if material)
! style="text-align:left" | EUR million
! class="col-m" style="text-align:right" | YE 2024
Line 164:
| style="text-align:right" | 42,268,284
|-
| style="text-align:left" | Adjusted EPS {{(footnote|1=: 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.}})
| style="text-align:right" | 2.45
| style="text-align:right" | 2.85
Line 483:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ TotalBalance assets and liabilitiessheet breakdown by segment for fiscal years 2024 and 2025
! style="text-align:left" | EUR million
! colspan="2" style="text-align:center" | Group
Line 832:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Gross present value future cash-flows, risk adjustment, and net contractual service margin (CSM) breakdown by segment for fiscal years 2024 and 2025 {{footnote|1=Including (re)insurance contracts that are assets.}}
! style="text-align:left" | EUR million
! colspan="2" style="text-align:center" | Group
Line 846:
! class="col-s" style="text-align:right" | YE 2025
|-
| style="text-align:left" | Gross present value future cash-flows (PVFCF) {{(footnote|1=: Including any receivables, payables, policy loans and reinsurance deposits considered in insurance assets and liabilities.}})
| style="text-align:right" | 404,025
| style="text-align:right" | 414,521
Line 870:
| style="text-align:right" | 1,007
|-
| style="text-align:left" | Net contractual service margin (CSM) {{(footnote|1=CSM: presentedThe netimpact reflects the change implied by a 50 bps spread widening of reinsurance,sovereign bonds issued by taxesEuro andarea minoritiescountries.}})
| style="text-align:right" | 21,484
| style="text-align:right" | 24,117
Line 886:
|+ 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" | Gross writtenWritten premiumPremium
! colspan="6" style="text-align:center" | Gross primaryPrimary premiumsPremiums
! colspan="3" style="text-align:center" | Reinsurance accepted
|-
Line 893:
! colspan="3" style="text-align:center" | P&C
! colspan="3" style="text-align:center" | Motor
! colspan="3" style="text-align:center" | Non motorMotor
! colspan="3" style="text-align:center" | P&C
|-
Line 1,082:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Gross written premium and reinsurance accepted breakdown by geography and line of business for fiscal years 2024 and 2025 {{(footnote|1=: Total Gross Written Premiums.}})
! style="text-align:left" | EUR million
! colspan="3" style="text-align:center" | Gross writtenWritten premiumPremium
! colspan="9" style="text-align:center" | Gross primaryPrimary premiumsPremiums
! 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" | Traditional savingSaving
! colspan="3" style="text-align:center" | Protection & healthHealth
! colspan="3" style="text-align:center" | Hybrid & unitUnit linkedLinked
! colspan="3" style="text-align:center" | Life
|-
Line 1,480:
| style="text-align:right" | '''3,010'''
|-
| style="text-align:left" | Perimeter {{(footnote|1=: Including investment(re)insurance contracts, PAA, andthat potentialare LC.}}assets)
| style="text-align:right" | 192
| style="text-align:right" | 196
Line 1,894:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Insurance contracts issued breakdown by maturity for fiscal year 2025 {{footnote|1=The development of CSM here reported does not consider unwinding effect, future new business release contribution, CSM additional release due to the economic systematic variance.}}
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Up to 1 year
Line 1,919:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Contractual service margin (CSM) sensitivity by scenario for fiscal years 2024 and 2025 {{footnote|1=Sensitivities representing impact before release.}}
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | YE 2024
Line 1,944:
| style="text-align:right" | -481
|-
| style="text-align:left" | Euro area govies spread {{(footnote|1=The: impactIncluding reflectsequity thestakes changeof impliedAssicurazioni by a 50 bps spread widening ofGenerali sovereignin bondsits issuedsubsidiaries byheld Euroin areaAM countries.}}funds) +50 bps
| style="text-align:right" | -637
| style="text-align:right" | -747
Line 2,126:
| style="text-align:right" | 269
|-
| style="text-align:left" | Group holdings and other companies {{(footnote|1=: Including elimination of transactions between Generali Groupinvestment companiescontracts, inPAA, differentand geographicpotential regions.}}LC)
| style="text-align:right" | -36
| style="text-align:right" | 53
Line 2,501:
| style="text-align:right" | 94.0%
|-
| style="text-align:left" | Group holdings and other companies {{(footnote|1=Elimination: The development of transactionsCSM here reported does not betweenconsider Generaliunwinding Groupeffect, companiesfuture innew differentbusiness geographicrelease regionscontribution, wereCSM includedadditional inrelease absolutedue valuesto andthe excludedeconomic insystematic ratiosvariance.}})
| style="text-align:right" | 1,252
| style="text-align:right" | 1,206
Line 2,560:
| style="text-align:right" | 16.2
|-
| style="text-align:left; padding-left:1.5em" | o/w Generali Group (1footnote: Including elimination of transactions between Generali Group companies in different geographic regions)
| style="text-align:right" | 4.9
| style="text-align:right" | 6.5
Line 2,572:
| style="text-align:right" | -4.2
|-
| style="text-align:left" | Perimeter changes (2footnote: Sensitivities representing impact before release.)
| style="text-align:right" | 154.4
| style="text-align:right" | 4.5
Line 2,580:
| style="text-align:right" | '''712'''
|-
| style="text-align:left; padding-left:1.5em" | o/w Generali Group (1footnote: Elimination of transactions between Generali Group companies in different geographic regions were included in absolute values and excluded in ratios) (3footnote: Includes derivative accounted as liabilities of € 2.398 mln as at YE 2025 and of € 2,718 mln as at YE 2024.)
| style="text-align:right" | 425
| style="text-align:right" | 439
Line 2,623:
| style="text-align:right" | 160
|-
| style="text-align:left" | Other revenues (4footnote: Mainly including dividends, net result from participations, and interest income)
| style="text-align:right" | 173
| style="text-align:right" | 160
Line 2,653:
| style="text-align:right" | —
|-
| style="text-align:left" | Minorities adjusted (5footnote: Including minorities at affiliate level) (6footnote: MGG fully consolidated starting from October 2025)
| style="text-align:right" | -83
| style="text-align:right" | -90
Line 2,669:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Asset management average AUM and cost income ratio for fiscal years 2024 and 2025 {{footnote|1=Conning Holdings Limited (“CHL”) fully consolidated starting from April 2024.}} {{footnote|1=Mainly including dividends, net result from participations, and interest income.}} {{footnote|1=Including minorities at affiliate level.}} {{footnote|1=MGG fully consolidated starting from October 2025.}}
! style="text-align:left" | EUR billion
! style="text-align:center" |
Line 2,688:
| style="text-align:right" | '''696'''
|-
| style="text-align:left; padding-left:1.5em" | o/w Generali Group {{(footnote|1=: Including Unit-Linked.}}) {{(footnote|1=Including: The foreseeable dividend corresponds to the equityproposed stakestotal ofdividend, Assicurazionisubject Generalito inapproval itsby subsidiariesthe heldnext inAnnual AMGeneral fundsMeeting.}})
| style="text-align:right" | 416
| style="text-align:right" | 431
Line 2,706:
| style="text-align:right" | '''18.6'''
|-
| style="text-align:left; padding-left:1.5em" | o/w on Generali Group AUM (1footnote: These KPIs exclude bond issuances classified as shareholders’ equities, such as RT1 bonds and AT1 bonds.)
| style="text-align:right" | 17.1
| style="text-align:right" | 16.9
Line 2,808:
| style="text-align:right" | 102
|-
| style="text-align:left" | '''Total financial debt (1footnote: Directly owned exposure only (before look-through).)'''
| style="text-align:right" | '''11,160'''
| style="text-align:right" | '''11,194'''
|-
| style="text-align:left" | '''Average maturity (FYears) (1footnote: Including Private Equity.)'''
| style="text-align:right" | '''4.9'''
| style="text-align:right" | '''4.8'''
|-
| style="text-align:left" | '''Total interest cost (1footnote: Government bonds comprises Sovereign, Agencies, State & Local notes and other Government Guaranteed notes.)'''
| style="text-align:right" | '''493'''
| style="text-align:right" | '''460'''
Line 2,828:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Debt maturity schedule by type for fiscal year 2025 {{footnote|1=These KPIs exclude bond issuances classified as shareholders’ equities, such as RT1 bonds and AT1 bonds.}}
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Senior
Line 2,942:
| style="text-align:right" | -4,155
|-
| style="text-align:left" | Government bonds {{(footnote|1=Directly: ownedNot exposureincluded onlywithin (beforeGeneral look-through)account investments.}})
| style="text-align:right" | 139,053
| style="text-align:right" | 140,715
Line 3,032:
| style="text-align:right" | -
|-
| style="text-align:left" | Cash & cash-like {{(footnote|1=Includes: repurchaseConning agreementHoldings accountedLimited as(“CHL”) liabilitiesfully ofconsolidated €starting 3,779from mln as at YE 2025 and of € 4,231 mln as at YEApril 2024.}})
| style="text-align:right" | 17,192
| style="text-align:right" | 14,470
Line 3,050:
| style="text-align:right" | -1,209
|-
| style="text-align:left" | Other investments {{footnote|1=Includes derivative accounted as liabilities of € 2.398 mln as at YE 2025 and of € 2,718 mln as at YE 2024.}}(3)
| style="text-align:right" | 7,805
| style="text-align:right" | 8,917
Line 3,122:
| style="text-align:right" | —
|-
| style="text-align:left" | Third parties AUM {{(footnote|1=: The amount presented in the item does not include € 440 mln at YE 2025, and € 447 mln at YE 2024, attributable to minority interests related to funds consolidated using the line by line consolidation method, already included within the General Account item.}})
| style="text-align:right" | 366,084
| style="text-align:right" | 383,755
Line 3,162:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Investment income summary by group, life, and property & casualty for year end 2024 and year end 2025 {{(footnote|1=: 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.}})
! style="text-align:left" | EUR million
! colspan="2" style="text-align:center" | Group
Line 3,344:
| style="text-align:right" | 1,535
|-
! class="col-s"| style="text-align:rightleft" | SolvencyGovernment IIbonds ratio {{(footnote|1=: The solvency position (Own Funds and SCR) disclosed here is based on the last available information. Differences may arise in comparison to the official values, which will be included in the 2025 Solvency and Financial Condition Report (SFCR) and Quantitative Reporting Templates (QRT).}} (%)▼
| style="text-align:left" | Government bonds {{footnote|1=Directly owned exposure only (before look-through).}}
| style="text-align:right" | 2,044
| style="text-align:right" | 2,187
Line 3,494:
| style="text-align:right" | 2,141
|-
| style="text-align:left" | Cash & cash-like {{(footnote|1=: Includes repurchase agreement accounted as liabilities of € 3,779 mln as at YE 2025 and of € 4,231 mln as at YE 2024.}})
| style="text-align:right" | 12,466
| style="text-align:right" | 10,246
Line 3,524:
| style="text-align:right" | 3,160
|-
| style="text-align:left" | Other investments {{footnote|1=Includes derivative accounted as liabilities of € 2.398 mln as at YE 2025 and of € 2,718 mln as at YE 2024.}}(3)
| style="text-align:right" | 3,879
| style="text-align:right" | 4,699
Line 3,714:
| style="text-align:right" | 139
|-
| style="text-align:left" | Alternative investments {{footnote|(1=Including Private Equity.}})
| style="text-align:right" | 15,558
| style="text-align:right" | 13,610
Line 3,802:
| style="text-align:right" | '''27,712'''
|-
| style="text-align:left" | Fair value through OCI {{(footnote|1=: Without recycling to P&L.}})
| style="text-align:right" | 2,839
| style="text-align:right" | 3,474
Line 3,966:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Duration of government bonds by life and P&C for fiscal year 2025 {{(footnote|1=Government: bonds comprises Sovereign, Agencies, State & Local notes and other Government Guaranteed notes.}} {{footnote|1=CORPORATE BOND.}})
! style="text-align:left" | EUR million
! style="text-align:center" | Duration government bonds
Line 4,207:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Duration of corporate bonds by life and P&C for fiscal year 2025 {{(footnote|1=: OTHER FIXED INCOME.}}) {{(footnote|1=: Split by nature.}})
! style="text-align:left" | EUR million
! style="text-align:center" | Duration corporate bonds
Line 4,299:
| style="text-align:right" | '''28,472'''
|-
| style="text-align:left" | Self use properties {{footnote|(1=Not included within General account investments.}})
| style="text-align:right" | 2,955
| style="text-align:right" | 3,697
Line 4,376:
! class="col-s" style="text-align:right" | Group own funds
! class="col-s" style="text-align:right" | Group SCR
! class="col-s" style="text-align:right" | Solvency II ratio (1) (%)
▲! class="col-s" style="text-align:right" | Solvency II ratio {{footnote|1=The solvency position (Own Funds and SCR) disclosed here is based on the last available information. Differences may arise in comparison to the official values, which will be included in the 2025 Solvency and Financial Condition Report (SFCR) and Quantitative Reporting Templates (QRT).}} (%)
|-
| style="text-align:left" | '''Opening FY 2024'''
Line 4,461:
| style="text-align:right" | -2 p.p.
|-
| style="text-align:left" | Euro area govies spread +50 bps {{(footnote|1=: The impact reflects the change in the Solvency Ratio implied by a 50 bps spread widening of sovereign bonds issued by Euro area countries.}})
| style="text-align:right" | -8 p.p.
|}
Line 4,502:
| style="text-align:right" | -5.9
|-
| style="text-align:left" | Foreseeable dividends {{footnote|1=The foreseeable dividend corresponds to the proposed total dividend, subject to approval by the next Annual General Meeting.}}(3)
| style="text-align:right" | -2.5
|-
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