2014 results mark early conclusion of Generali turnaround All targets delivered one year in advance
- Generali Group consolidated results as of 31 december 2014*
- Overall operating result rose to more than €4.5 bln (+10.8%), with excellent performances in both business segments
- Operating RoE increased to 13.2% (vs 2015 target 13%)
- Net result €1.7 bln (€1.9 bln FY13), which includes €0.4 bln of extraordinary one-offs (BSI sale and Ingosstrakh impairment); adjusted net result €2.1 bln
- Proposed dividend per share of €0.60 (+33%; €0.45 FY13)
- Gross written premiums exceeding €70 bln (+7.7%) thanks to growth of unit linked products in the Life segment
- Continued focus on the Group’s solidity; Solvency I at 164%** (vs 2015 target 160%)
The Generali Group CEO, Mario Greco, said: “The transformation of Generali has been achieved, and on behalf of all our employees, I am proud to confirm that the targets set out in January 2013 have been met one year in advance. With this turnaround we have been able to generate €18 billion for our shareholders and are confident that we will deliver further value in the future. Today, Generali is focused on its core insurance business, more disciplined in the management of its balance sheet and capital, and more simple and transparent in its geographic presence and governance. The financial performance of our business over the past year, despite an unprecedented challenging market environment, reflects the commitment of our people around the world to keep our promise to customers and all of our stakeholders. Generali has never been on a more solid footing and ready to compete and win in today’s highly competitive markets. We are now preparing to begin a new chapter in our history and we look forward to presenting the next phase of our strategy in May”.
* Change in premiums, net inflows and APE is calculated on a like-for-like basis (on equivalent exchange rates and consolidation area). Changes in operating results and own investments are calculating excluding the disposed entities from the comparative period.
** Pro Forma calculating also BSI disposal
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