Generali earned 2.3% more in 2022 and achieved record profit of 2,912 million

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Generali earned 2.3% more in 2022 and achieved record profit of 2,912 million

Italy’s largest insurance group, Generali (BIT:GASI), obtained a net profit of 2022,2 million euros in 912, 2.3% more than in 2022, and the best operating result in its history, which was 6,509 million euros, 11.2% more year-on-year.

The Italian group today published its consolidated results for last year and reported that without the impact of investments in Russia the net profit would have been 3,066 million.

With these figures, Generali proposed a dividend per share of 1.16 euros, 8.4% more than the previous year, “which confirms the Group’s orientation towards shareholder profitability,” the group said in a statement.

It also revealed a record operating result of €6,505 million (+11.2%), driven mainly by the Life sector, whose operating result rose by 25.1% to €3,522 million.

Net written premiums reached €81,538 million (+1.5%), thanks to the positive performance of the Non-Life sector (9.8%) led by the non-auto business, while net inflows into Life Net Inflows are resilient and reach €8.700 billion.

“Generali’s results confirm the success of our transformation journey,” Chief Executive Officer Philippe Donnet said in the note.

A path that “continues through the disciplined and effective implementation of the ‘Lifetime Partner 24: Driving Growtth’ strategy, driven by a clear vision of positioning the group as a global leader in insurance and asset management; We are on track to achieve the goals and ambitions of our strategic plan.”

“Even in a challenging geopolitical and economic context. This has allowed us to propose to our shareholders, once again, an increase in the dividend, thanks to the continued growth in earnings and the strong cash and capital position of the group.”

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