Results 2024 Still growing for Generalwho benefited from the strong growth of prizes, in response to a context of uncertainty that has prompted insurance products for savings (Rami I and III) and also traditional products in the damage sector. A recovery that concerned the whole Italian market.
The advance of the assembly
Generali’s numbers, as well as dividend’s proposal, will be examined by theassemblywhich was early April 24. A move that seems to want to avoid any raids of shares in view of the assembly by entrepreneurial members, such as Caltagirone and the old man, in view of a new one battle for the conquest of the board.
The growth of prizes and profit
Generali closed the 2024 exercise with Premiums gross significant increase to 95.2 billion euros, in growth of 14.9% on 2023, thanks to the solid performance of the segments Life (+19.2%) e Damage (+7.7%). The clear life, very positive life, has stood at 9.7 billion euros, driven by unit-coin (savings) policies and pure risk and illness. The value of New business It is growing at 2.4 billion euros (+2.3%).
Record operating result and growing at 7,295 billion euros (+8.2%), Thanks to the positive performance of all business segments, with a significant contribution of asset & wealth management. In particular, the operating result of life increases to € 3,982 million (+6.6%) and the New Business Value improves to 2.383 billion (+2.3%). The operating result of the damage is increasing to 3.052 billion (+5.1%).
Normalized net profit reaches 3.769 billion (3.575 billion in 2023) – the highest in the history of the group – thanks to the positive contribution of diversified profits of profits. The net result is equal to 3.724 billion (3.747 billion in 2023), also due to the gouos of divestments made in 2023.
Assets confirmed
The Asset under management of the group reach 863 billion (+31.6%) Thanks to the positive net collection and the consolidation of Conning Holdings Limited.
The capital position is solidwith a Solvency Ratio at 210% (220% in 2023), which mainly reflects the acquisitions (Liberty Seguros) and the 2024 buyback of 500 million.
Dividing growing
The dividend For action that will be proposed to the next shareholders’ meeting is equal to 1.43 euros per share, For a maximum total delivery of 2.172 billion euros, and will be paid starting from 21 May 2025, while the shares will be negotiated without the right to dividend starting from 19 May 2025.
The dividend highlights a increase of 11.7% riI am up to last year, confirming the strong focus on the growth of the remuneration of the shareholders of the “Lifetime Partner 27: Driving Excellence” plan, which ended precisely with the 2024 exercise.
The plan closed with the overcoming all targets Proposed: strong growth in profits in the order of 11.3% per year, growth of the profit by 6-8%, increase in net cash flows available at the level of the group leader (9.6 billion in the period against a target of over 8.5 billion), increased dividends (5.5 billion of cumulative dividends in the 2022-24 period against a target of 5,2-5.6 billion). To this is added the repurchase of proper shares for a total of 1 billion, performed in the period 2022-2024.
