The Generali group closes 2015 with operating results better than pre-crisis levels, profits at the highest level in the last eight years and a 20% increase in dividends. The Trieste company, to which he has just been appointed to lead Philippe Donnet after the release of Mario Greco, it closed an operating profit up 6,1% to 4,8 billion and an operating Roe up 14% above the target (>13%). L'net profit thus settled at 2 billion euro, up 21,6% on 2014, when it stood at 1,7 billion, thus returning to pre-crisis levels.
On the side of production, the launch of new products and business initiatives pushed total premiums to 74.165 million, up 4,6%, driven by the Life segment and the recovery in Non-Life. Life premiums grew to 53.297 million (+6,2%), thanks to the improvement of all lines of business and the excellent performance of the main operating countries (Italy, France, Germany and CEE countries).
New production in terms of Ape was stable at 5.210 million (-0,2%), where the positive performance of the unit-linked and pure risk business was offset by a drop in the production of savings. In the Non-Life segment premiums grew by 0,8% to 20.868 million, thanks to the growth of the Non-Motor segment and the resilience of the Motor segment, which recorded different trends due to the strong competitive pressures in the various countries of operation. The combined ratio further improved to 93,1% (-0,6 pp) thanks to the drop in the loss ratio, despite the greater impact of catastrophic claims for € 75 million (+0,4 pp).
At the level of solidity, shareholders' equity increased by 1,5% to 23,6 billion euro and the Solvency I index was 164% (+8 percentage points).
“The positive results of the 2015 financial statements demonstrate the quality of the turnaround plan concluded by the company in recent years and of the strategy launched last year. These results allow us to propose to the Shareholders' Meeting the distribution of a dividend of 0,72 euro, 20% higher than that distributed in 2015”, stated the chairman of Generali, Gabriele Galateri of Genola.
“It's the best way to start the new phase that opens with the decision of the board of appoint the new Group CEO Philippe Donnet – added Galateri di Genola, commenting on the change in top management – This is an important acknowledgment of Generali's internal resources, confirmed by the simultaneous appointment of the CFO Alberto Minali as General Manager. They are managers with vast international experience, with in-depth knowledge of the sector, esteemed by the markets and who demonstrate how the Generali Group is capable of making the most of its talents".
