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

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Line 8:
| source_url = https://www.generali.com/doc/jcr:47896f46-d618-406e-87b4-c8976929a15f/Generali%20Financial%20Supplement%20FY25.xlsx/lang:en/Generali_Financial_Supplement_FY25.xlsx
| archive_file = File:Generali-2025-FY-Financial_supplement.md
| intro_sentence = Generali FY2025FY25 financial supplement.
}}
 
''Generali FY2025FY25 financial supplement.''
 
== Summary P&L ==
Line 1,721:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Life new business sensitivity byto interest rate changechanges
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | YE 2024
Line 1,927:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Life CSM sensitivity by market and interest rate change {{footnote|1=Sensitivities representing impact before release.}}
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | YE 2024
Line 1,962:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Summary Lifelife operating result build-up
! style="text-align:left" | EUR million
! colspan="2" style="text-align:center" | Group
Line 2,006:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Summary Lifelife operating result by country
! style="text-align:left" | EUR million
! colspan="2" style="text-align:center" | Operating insurance service result
Line 2,601:
{| class="wikitable fintable"
|+ Asset management profit and loss
! style="text-align:left" | EUR billionmillion
! style="text-align:center" |
! style="text-align:center" |
Line 2,667:
| style="text-align:right" | —
|-
| style="text-align:left" | '''Adjusted net result after minorities {{footnote|1=Including minorities at affiliate level.}}'''
| style="text-align:right" | '''343'''
| style="text-align:right" | '''356'''
Line 2,677:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Asset management other information {{footnote|1=Including minorities at affiliate level.}}
! style="text-align:left" | EUR billion
! style="text-align:center" |
Line 3,170:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Investments summaryincome by business unit
! style="text-align:left" | EUR million
! colspan="2" style="text-align:center" | Group
Line 3,261:
| style="text-align:right" | 2,805
| style="text-align:right" | 1,522
|}
</div>
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Investments return by asset class and business unit
! style="text-align:left" | %
! colspan="2" style="text-align:center" | Group
! colspan="2" style="text-align:center" | Life
! colspan="2" style="text-align:center" | o/w Life VFA
! colspan="2" style="text-align:center" | o/w Life other than VFA
! colspan="2" style="text-align:center" | Property & Casuality 5
|-
! style="text-align:left" | —
! class="col-s" style="text-align:right" | YE 2024
! class="col-s" style="text-align:right" | YE 2025
! class="col-s" style="text-align:right" | YE 2024
! class="col-s" style="text-align:right" | YE 2025
! class="col-s" style="text-align:right" | YE 2024
! class="col-s" style="text-align:right" | YE 2025
! class="col-s" style="text-align:right" | YE 2024
! class="col-s" style="text-align:right" | YE 2025
! class="col-s" style="text-align:right" | YE 2024
! class="col-s" style="text-align:right" | YE 2025
|-
| style="text-align:left" | '''Fixed Income'''
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | Current return
| style="text-align:right" | 3.3%
| style="text-align:right" | 3.3%
| style="text-align:right" | 3.3%
| style="text-align:right" | 3.3%
| style="text-align:right" | 3.2%
| style="text-align:right" | 3.3%
| style="text-align:right" | 3.8%
| style="text-align:right" | 3.4%
| style="text-align:right" | 4.2%
| style="text-align:right" | 3.4%
|-
| style="text-align:left; font-weight:bold" | Total P&L return
| style="text-align:right; font-weight:bold" | 3.2%
| style="text-align:right; font-weight:bold" | 3.3%
| style="text-align:right; font-weight:bold" | 3.2%
| style="text-align:right; font-weight:bold" | 3.3%
| style="text-align:right; font-weight:bold" | 3.1%
| style="text-align:right; font-weight:bold" | 3.3%
| style="text-align:right; font-weight:bold" | 3.8%
| style="text-align:right; font-weight:bold" | 3.1%
| style="text-align:right; font-weight:bold" | 4.0%
| style="text-align:right; font-weight:bold" | 3.3%
|-
| style="text-align:left" | Reinvestment yield on direct fixed income
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | 3.6%
| style="text-align:right" | 3.6%
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | 3.6%
| style="text-align:right" | 4.3%
|-
| style="text-align:left" | '''Equity & equity-like'''
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | Current return
| style="text-align:right" | 3.1%
| style="text-align:right" | 3.7%
| style="text-align:right" | 2.5%
| style="text-align:right" | 3.1%
| style="text-align:right" | 2.2%
| style="text-align:right" | 2.7%
| style="text-align:right" | 6.1%
| style="text-align:right" | 7.0%
| style="text-align:right" | 4.7%
| style="text-align:right" | 5.5%
|-
| style="text-align:left; font-weight:bold" | Total P&L return
| style="text-align:right; font-weight:bold" | 7.3%
| style="text-align:right; font-weight:bold" | 4.9%
| style="text-align:right; font-weight:bold" | 7.3%
| style="text-align:right; font-weight:bold" | 4.9%
| style="text-align:right; font-weight:bold" | 7.2%
| style="text-align:right; font-weight:bold" | 4.8%
| style="text-align:right; font-weight:bold" | 8.3%
| style="text-align:right; font-weight:bold" | 5.6%
| style="text-align:right; font-weight:bold" | 5.8%
| style="text-align:right; font-weight:bold" | 3.2%
|-
| style="text-align:left" | '''Real Estate'''
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | Current return
| style="text-align:right" | 4.1%
| style="text-align:right" | 4.2%
| style="text-align:right" | 4.0%
| style="text-align:right" | 4.0%
| style="text-align:right" | 3.9%
| style="text-align:right" | 3.9%
| style="text-align:right" | 5.2%
| style="text-align:right" | 5.2%
| style="text-align:right" | 5.2%
| style="text-align:right" | 5.6%
|-
| style="text-align:left; font-weight:bold" | Total P&L return
| style="text-align:right; font-weight:bold" | 1.4%
| style="text-align:right; font-weight:bold" | 3.0%
| style="text-align:right; font-weight:bold" | 0.8%
| style="text-align:right; font-weight:bold" | 2.5%
| style="text-align:right; font-weight:bold" | 1.1%
| style="text-align:right; font-weight:bold" | 2.6%
| style="text-align:right; font-weight:bold" | -2.7%
| style="text-align:right; font-weight:bold" | 1.7%
| style="text-align:right; font-weight:bold" | 5.9%
| style="text-align:right; font-weight:bold" | 6.7%
|-
| style="text-align:left" | '''Total'''
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | Current return
| style="text-align:right" | 3.3%
| style="text-align:right" | 3.4%
| style="text-align:right" | 3.2%
| style="text-align:right" | 3.4%
| style="text-align:right" | 3.1%
| style="text-align:right" | 3.3%
| style="text-align:right" | 4.1%
| style="text-align:right" | 3.8%
| style="text-align:right" | 4.4%
| style="text-align:right" | 3.9%
|-
| style="text-align:left; font-weight:bold" | Total P&L return
| style="text-align:right; font-weight:bold" | 3.5%
| style="text-align:right; font-weight:bold" | 3.2%
| style="text-align:right; font-weight:bold" | 3.3%
| style="text-align:right; font-weight:bold" | 3.2%
| style="text-align:right; font-weight:bold" | 3.2%
| style="text-align:right; font-weight:bold" | 3.2%
| style="text-align:right; font-weight:bold" | 3.9%
| style="text-align:right; font-weight:bold" | 3.2%
| style="text-align:right; font-weight:bold" | 4.6%
| style="text-align:right; font-weight:bold" | 3.3%
|-
| style="text-align:left" | Comprehensive return
| style="text-align:right" | 4.5%
| style="text-align:right" | 2.1%
| style="text-align:right" | 4.3%
| style="text-align:right" | 1.8%
| style="text-align:right" | 3.8%
| style="text-align:right" | 1.8%
| style="text-align:right" | 7.4%
| style="text-align:right" | 2.2%
| style="text-align:right" | 6.0%
| style="text-align:right" | 3.1%
|}
</div>
Line 3,269 ⟶ 3,461:
{| class="wikitable fintable"
|+ Investments by accounting treatment and business unit
! style="text-align:left" | EUR million
! colspan="6" style="text-align:center" | Group
! colspan="6" style="text-align:center" | Life
Line 3,291 ⟶ 3,483:
! colspan="2" style="text-align:center" | Fair Value through OCI
! colspan="2" style="text-align:center" | At cost
|-
! style="text-align:left" | EUR million
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" | Index!A1
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" | Index!A1
! style="text-align:center" |
|-
! style="text-align:left" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" | Index!A1
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" |
! style="text-align:center" | Index!A1
! style="text-align:center" |
|-
! style="text-align:left" | —
Line 3,740 ⟶ 3,992:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Direct equities investments breakdown by geography and business unit
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Group
Line 3,801 ⟶ 4,053:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Equities fair value reconciliation
|+ Equity investments by valuation method
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Amortised cost
! class="col-s" style="text-align:right" | Fair Value
! class="col-s" style="text-align:right" | ∆
|-
| style="text-align:left" | '''Equities'''
| style="text-align:right" | '''27,078'''
| style="text-align:right" | '''27,712'''
| style="text-align:right" | '''635'''
|-
| style="text-align:left; padding-left:1.5em" | Fair Value through OCI {{footnote|1=Without recycling to P&L.}}
| style="text-align:right" | 2,839
| style="text-align:right" | 3,474
| style="text-align:right" | 635
|-
| style="text-align:left; padding-left:1.5em" | Fair Value through P&L
| style="text-align:right" | 24,239
| style="text-align:right" | 24,239
| style="text-align:right" | n.m.
|}
</div>
Line 3,824 ⟶ 4,080:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Fixed income investments bybreakdown creditby rating and business unit
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Group
Line 3,885 ⟶ 4,141:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ FixedInvestments incomefixed investmentsincome by geography and business unit
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Group
Line 3,953 ⟶ 4,209:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ FixedGovernment income investmentsbonds by accounting classificationtreatment
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Amortised Cost
! class="col-s" style="text-align:right" | Fair Value
! class="col-s" style="text-align:right" | ∆
|-
| style="text-align:left" | '''Government bonds {{footnote|1=Government bonds comprises Sovereign, Agencies, State & Local notes and other Government Guaranteed notes.}}'''
| style="text-align:right" | '''162,275'''
| style="text-align:right" | '''140,786'''
| style="text-align:right" | '''(21,489)'''
|-
| style="text-align:left; padding-left:1.5em" | Fair Value through OCI
| style="text-align:right" | 153,619
| style="text-align:right" | 132,058
| style="text-align:right" | -21,561
|-
| style="text-align:left; padding-left:1.5em" | Fair Value through P&L
| style="text-align:right" | 2,187
| style="text-align:right" | 2,187
| style="text-align:right" | n.m
|-
| style="text-align:left; padding-left:1.5em" | Amortised cost
| style="text-align:right" | 6,469
| style="text-align:right" | 6,541
| style="text-align:right" | 71
|}
</div>
Line 3,974 ⟶ 4,239:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ GovernmentDuration bondsgovernment durationbonds by business unit
! style="text-align:left" | EUR million
! style="text-align:center" | Duration Government bonds
Line 3,991 ⟶ 4,256:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ CorporateFixed bondsincome breakdowninvestments by rating and business unit
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Group
Line 4,052 ⟶ 4,317:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Corporate bondsfixed breakdownincome investments by rating and type
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Corporate Financial
Line 4,089 ⟶ 4,354:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ CorporateFixed bondsincome breakdowninvestments by industry and business unit
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Group
Line 4,157 ⟶ 4,422:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Corporate bondsfixed breakdownincome investments by geography and type
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Corporate Financial
Line 4,194 ⟶ 4,459:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Corporate bonds by accounting classificationtreatment
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Amortised Cost
! class="col-s" style="text-align:right" | Fair Value
! class="col-s" style="text-align:right" | ∆
|-
| style="text-align:left" | '''Corporate bonds'''
| style="text-align:right" | '''112,784'''
| style="text-align:right" | '''107,838'''
| style="text-align:right" | '''(4,946)'''
|-
| style="text-align:left; padding-left:1.5em" | Fair Value through OCI
| style="text-align:right" | 103,100
| style="text-align:right" | 98,155
| style="text-align:right" | -4,945
|-
| style="text-align:left; padding-left:1.5em" | Fair Value through P&L
| style="text-align:right" | 7,076
| style="text-align:right" | 7,076
| style="text-align:right" | n.m.
|-
| style="text-align:left; padding-left:1.5em" | Amortised cost
| style="text-align:right" | 2,609
| style="text-align:right" | 2,608
| style="text-align:right" | -1
|}
</div>
Line 4,215 ⟶ 4,489:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ CorporateDuration corporate bonds duration by business unit {{footnote|1=OTHER FIXED INCOME.}}
! style="text-align:left" | EUR million
! style="text-align:center" | Duration Corporate bonds
Line 4,232 ⟶ 4,506:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Fixed incomeIndirect investments in fixed income build-up by business unit
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Group
Line 4,258 ⟶ 4,532:
| style="text-align:right" | 572
|-
| style="text-align:left" | '''Total {{footnote|1=OTHER FIXED INCOME.}}'''
| style="text-align:right" | '''54,017'''
| style="text-align:right" | '''44,366'''
Line 4,267 ⟶ 4,541:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ FixedInvestments income investmentsbuild-up by accounting treatment
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Amortised Cost
! class="col-s" style="text-align:right" | Fair Value
! class="col-s" style="text-align:right" | ∆
|-
| style="text-align:left" | '''Total'''
| style="text-align:right" | '''54,080'''
| style="text-align:right" | '''53,977'''
| style="text-align:right" | '''(103)'''
|-
| style="text-align:left; padding-left:1.5em" | Fair Value through OCI
| style="text-align:right" | 8,005
| style="text-align:right" | 7,942
| style="text-align:right" | -63
|-
| style="text-align:left; padding-left:1.5em" | Fair Value through P&L
| style="text-align:right" | 36,534
| style="text-align:right" | 36,534
| style="text-align:right" | n.m.
|-
| style="text-align:left; padding-left:1.5em" | Amortised cost
| style="text-align:right" | 9,540
| style="text-align:right" | 9,500
| style="text-align:right" | -40
|}
</div>
Line 4,290 ⟶ 4,573:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Real estate investments build-up by accounting treatment
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Book Value
! class="col-s" style="text-align:right" | Fair Value
! class="col-s" style="text-align:right" | ∆
|-
| style="text-align:left" | Investment properties
| style="text-align:right" | 22,293
| style="text-align:right" | 24,379
| style="text-align:right" | 2,085
|-
| style="text-align:left" | Indirect investments in Real Estate
| style="text-align:right" | 4,094
| style="text-align:right" | 4,094
| style="text-align:right" | n.m.
|-
| style="text-align:left" | '''Total General Account Investments'''
| style="text-align:right" | '''26,387'''
| style="text-align:right" | '''28,472'''
| style="text-align:right" | '''2,085'''
|-
| 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
| style="text-align:right" | 742
|-
| style="text-align:left" | Inventories {{footnote|1=Not included within General account investments.}}
| style="text-align:right" | 680
| style="text-align:right" | 680
| style="text-align:right" | n.m.
|-
| style="text-align:left" | '''Total'''
| style="text-align:right" | '''30,022'''
| style="text-align:right" | '''32,849'''
| style="text-align:right" | '''2,827'''
|}
</div>
Line 4,323 ⟶ 4,613:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ RealInvestment estateproperties investmentsfair breakdownvalue by geography
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | Fair Value
Line 4,352 ⟶ 4,642:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Real estate investments breakdown by property type
! style="text-align:left" | %
! class="col-s" style="text-align:right" | —
Line 4,380 ⟶ 4,670:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Solvency II ratioown funds and SCR rollforward
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | Group Own Funds
Line 4,476 ⟶ 4,766:
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ SolvencyGroup IIOwn own fundsFunds build-up, Solvency II
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | YE 2025
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