Generali Reports Strong First Half 2025 Results, Confirms Growth targets & Launches €500M Buyback
Milan, Italy – July [Date – Assume late July/early august 2025] – Italian insurance giant Generali today announced robust financial results for the first half of 2025, exceeding analyst expectations in key areas and reaffirming its ambitious three-year growth plan. the company also announced the immediate launch of a €500 million share buyback program.Key Highlights from the First Half:
Normalized Net Profit: Reached €2.24 billion, a 10.4% increase from the €2.03 billion reported in the first half of 2024. Accounting net profit also rose to €2.15 billion, up from €2.05 billion in the same period last year. These figures surpassed the analyst consensus of €2.2 billion, with estimates ranging from €2.1 billion to €2.38 billion.
Operating Result: Increased by 8.7% to €4.05 billion, driven by positive performance in the property & casualty, life, and asset management segments – aligning with the company’s strategic priorities outlined in its 2027 industrial plan.
Combined Ratio: Improved to 91%, indicating efficient insurance management of underwriting results and costs.
Gross Written Premiums: Grew by 0.9% to €50.53 billion, fueled by a 7.6% increase in the property & casualty segment. While positive,this fell slightly short of the analyst consensus of €51.29 billion.
Financial Strength & Capital Position:
As of June 30, 2025, Generali’s net equity stood at €29.72 billion, a 2.2% decrease from the beginning of the year (€30.39 billion). This reduction reflects the impact of net profits,dividend payments related to 2024,and the execution of a long-term incentive plan.
Assets under Management (AUM) totaled €854.09 billion, a 1% decrease from the €863 billion reported at the end of December 2024.Importantly, Generali’s Solvency Ratio strengthened to 212%, up from 210% at the start of the year. This key metric, representing the group’s regulatory capital position, benefited from organic capital generation and the initiation of the €500 million share buyback. The solvency ratio also slightly exceeded analyst expectations of 214%.
Looking Ahead: Confirmed Growth & Shareholder Returns
Generali reaffirmed its commitment to achieving annual earnings per share growth of 8% to 10% over the 2025-2027 period. Management anticipates generating over €11 billion in net cash flow during this timeframe.
The company plans to distribute over €7 billion in dividends to shareholders over the three years (subject to regulatory constraints) and dedicate at least €1.5 billion to share buybacks. Generali projects an average annual dividend growth rate exceeding 10%.
Share Buyback Program Details:
The newly launched share buyback program, valued at up to €500 million, underscores Generali’s confidence in its financial position and commitment to returning value to shareholders. [Link to source: https://www.soldionline.it/notizie/azioni-italia/generali-avviato-buy-back-2025]
About Generali:
Generali is one of the largest global insurance and asset management groups. Founded in 1831, it operates in over 50 countries and serves millions of customers worldwide. The company offers a comprehensive range of insurance products, including life, property & casualty, and health insurance, as well as asset management services.Generali’s strategic plan focuses on sustainable growth, digital conversion, and delivering long-term value to stakeholders.
