- Generali’s third-quarter operating profit was €1.67 billion, a 25% increase compared to last year and exceeded the estimated €1.52 billion.
- The life segment’s operating profit reached €1.08 billion, marking an 11% year-over-year increase.
- Property and casualty operating profit surged by 60% to €481 million, surpassing the estimated €442.8 million.
- Asset management operating profit climbed 22% to €271 million, beating the estimate of €258.2 million.
- The holding and other activities segment reported an operating loss of €129 million, a slight increase of 4.9% compared to the previous year, with an estimated loss of €109.5 million.
- Net income reached €909 million, up 57% year-over-year, and exceeded the expected €767.3 million.
- Adjusted net income rose by 32% to €855 million.
- Generali’s solvency ratio was 209%, slightly below last year’s 220% and the estimated 211.1%.
- The combined ratio improved slightly to 94% from 94.3% last year.
- For the first nine months of the year, gross written premiums totaled €70.72 billion, representing a 17% increase year-over-year.
- Assets under management increased by 29% to €843.32 billion.
- Shareholders’ equity rose by 3.7% to €30.04 billion.
- Life net inflows for the first nine months amounted to €6.8 billion, with significant improvement in net outflows from savings and pensions.
- Natural catastrophes had a significant impact on the combined ratio, with adverse weather events in Central and Eastern Europe, Germany, Austria, and Italy contributing to 3.8% of premiums, equivalent to €930 million in the first nine months of 2024.
- Generali plans to announce its new strategic plan and financial targets during an Investor Day on January 30, 2025.
A look at Assicurazioni Generali Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 4.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Assicurazioni Generali, a global provider of life and non-life insurance and reinsurance services, is set for a promising long-term outlook based on Smartkarma Smart Scores. With solid scores across key factors such as Value, Dividend, Growth, Resilience, and Momentum, the company appears well-positioned for sustained success. Its high Momentum score indicates a strong upward trend, potentially signaling positive market sentiment and future growth opportunities. Moreover, the company’s consistent performance across Value, Dividend, Growth, and Resilience factors underscores its stability and potential for delivering value to investors over the long run.
Assicurazioni Generali‘s comprehensive range of insurance and reinsurance offerings, including life, health, accident, and various property insurance services, enhances its market position and resilience. The company’s strong Smart Scores suggest a balanced approach to financial health, growth potential, and shareholder returns. As a result, Assicurazioni Generali‘s solid performance across key metrics bodes well for its long-term prospects in the insurance industry, showcasing its ability to navigate market challenges and capitalize on growth opportunities.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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