New Strategic Plan - Lifetime Partner 24: Driving Growth
Ambitious 2024 targets based on sustainable growth
- Strong earnings growth: 6% - 8% EPS CAGR range (2021-24)
- Increased cumulative net Holding cash flow: > € 8.5 billion (2022-24)
- Higher dividend: cumulative € 5.2 - 5.6 billion cash dividends (2022-24) vs € 4.5 billion (2019-21)
New plan builds on successful delivery of Generali 2021 and best-in-class shareholder returns
- Generali 2021 targets all met or exceeded despite Covid-19 environment
- Total shareholder return of 111% since Investor Day 2016
- € 500 million share buyback announced on completion of Generali 2021, the first in 15 years
- #1 in Relationship Net Promoter Score among European international peers
- Stronger balance sheet with lower financial debt, reduced interest expenses and industry- leading Solvency II Ratio
- Sustainability fully embedded into business – with climate strategy and targets upgraded in June 2021
Lifetime Partner 24: Driving Growth based on three strategic pillars with financial and operational KPIs
Drive sustainable growth
- 4% growth in P&C non-motor premiums (CAGR 2021-24)
- € 2.3 - 2.5 billion New Business Value in 2024 (€ 1.9 billion FY2020)
Enhance earnings profile
- € 2.5 – 3 billion cumulative discretionary free cash flow for redeployment to initiatives that drive profitable growth and create value, including M&A in Insurance and Asset Management
- € 100 million increase in third-party Asset Management revenues
Lead innovation
- € 1.1 billion investment in technology and digital transformation (2022-24) up by 60% on Generali 2021
- 2.5-3.0 p.p. cost income ratio improvement
- € 250 million insurtech venture fund to harness high-potential opportunities