Generali Group: Consolidated Results at 31 December 2017
Operating result hits record high, Net profit over € 2.1 billion, Dividend rises 6% to 0.85 per share. Confirming Generali Strategy fully on track
- Operating result at record of € 4.89 billion (+2.3%) thanks to the Life segment, the Investments, Asset & Wealth
- Management business and cost reduction target reached ahead of schedule
- Net profit over € 2.1 billion (+1.4%)
- Operating RoE at 13.4%, in line with the strategic plan target (>13%)
- Increase in profitability of life products, with New Business Value (NBV) rising 53.8%. Life net cash inflows at € 9.7 billion, among the highest levels in the European sector. Life technical reserves increased by 4.2%
- Combined Ratio at 92.8%, confirmed as the best among large peers
- The capital position is further strengthened: Regulatory Solvency Ratio at 208%; Economic Solvency Ratio at 230%
- Dividend per share at € 0.85, up 6% (€ 0.80 FY2016)
Generali Group CEO Philippe Donnet declared: “The excellent results that we presented today confirm the validity and effectiveness of our strategic plan in this current market context. We are perfectly positioned to reach all of our objectives that we had set for 2018. In light of these results, the Board of Directors will propose a dividend of 0.85 Euro per share, an increase of 6 per cent from 0.80 Euro in 2016. Our focus on technical excellence, combined with the results of our Investments, Asset & Wealth Management business and the cost reduction target hit two years ahead of schedule, have pushed the operating result to record levels. In 2017, we implemented a series of important projects, such as the launch of the new asset management strategy, the rationalizing of the international footprint and the transformation of our German business - all initiatives that contribute to the overall resilience of our Group. These results, obtained thanks to the daily commitment and passion of our colleagues, agents and collaborators, allow us to look to the future with confidence and to create sustainable value for all of our stakeholders.”
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