Generali Group Consolidated Results at 31 December 2022

Generali achieves its best ever operating result with continued growth in premiums and net result. Extremely solid capital position

• Gross written premiums of € 81.5 billion (+1.5%), with strong P&C growth (+9.8%), led by non-motor. Resilient Life net inflows of € 8.7 billion, entirely focused on unitlinked and protection, consistent with the Group strategy
• Record operating result at € 6.5 billion (+11.2%), mainly driven by Life, together with P&C growth. The Combined Ratio was 93.2% (+2.4 p.p.). New Business Margin was excellent at 5.35% (+0.86 p.p.)
• Net result grew to € 2,912 million (+2.3%)
• Extremely solid capital position, with the Solvency Ratio at 221% (227% FY2021)
• The proposed dividend per share of € 1.16 (+8.4%) confirms the Group’s focus on shareholder returns

Generali Group CEO, Philippe Donnet, said: “Generali’s results confirm the success of our transformation journey, which continues through the disciplined and effective implementation of the 'Lifetime Partner 24: Driving Growth' strategy. Powered by a clear vision to position the Group as a global leader in insurance and asset management, we are on track to achieve the targets and ambitions of our strategic plan, delivering sustainable growth to create value for all our stakeholders, even in a challenging geopolitical and economic context. This has enabled us to propose to our shareholders, once again, an increased dividend, thanks to continued earnings growth and the Group’s strong cash and capital position. Generali also continues to lead the way in sustainability, now fully integrated within all the Group’s business activities in line with our commitment to act as a responsible insurer, investor, employer and corporate citizen. We have achieved all of this thanks to the passion of our people and our unique agent network.”