Generali the new one was announced on Wednesday morning business plan 2022-2024 (Lifetime Partners 24), which forecasts “strong growth” in profits, with a 6-8% annual earnings per share increase.
As for the remuneration for shareholders, they will be distributed over the period total dividends of 5,2-5,6 billion euros, an increase compared to 4,5 billion in the three-year period 2019-21.
Furthermore, in the new plan - approved on Tuesday by a majority of the Board, with the vote against Caltagirone – Generali expects to generate net free cash flows at the level of the parent company of over 8,5 billion.
“The ambitious goals and initiatives we announced today are possible thanks to the success of our previous strategic plans – comments the CEO, Philippe Donnet – Today Generali has a solid financial and capital position, diversified sources of income, constant and profitable growth and a proven ability to generate returns for shareholders at the top of the sector. We are ready to build the next three years starting from these results”.
On the front of investments, Leo intends to allocate in the three years 1,1 billion to digital and technological transformation, 60% more than the previous plan.
A "250 million venture capital fund will then be created to seize high-potential opportunities in insurtech", reads the group's note.
Un budget of 2,5-3 billion instead it will be dedicated to “initiatives aimed at profitable growth and the creation of value, including M&A in the insurance business and asset management".
In terms of prize collection, on the other hand, growth of more than 4% is expected in the non-motor non-life business.
“Our leadership in the insurance sector – he continues Donnet – the asset management capabilities that we have developed and consolidated internally, our network of 165.000 digitized agents and our growing commitment to making a positive contribution in the social and environmental arena, show that Generali is ideally placed to achieve sustainable growth at benefit of all stakeholders”.
Right on the side of sustainability, the group is committed to reducing the carbon dioxide emissions of its equity and bond portfolio by 25% and making 8,5-9,5 billion in new green investments between 2021 and 2025.
Finally, the Lion announced a 500 million euro buyback plan to be launched “at the end of Generali 2021”. This is the first initiative of its kind for 15 years.
