The group Generali closes 2019 with the best operating result ever: €5,2 billion, up 6,9% year-on-year. The useful instead it increased by 15,7%, to 2,7 billion.
The board of directors will propose to the assembly a dividend from €0,96 per share, 6,7% more than in 2018.
On the balance sheet side, the capital position remains solid with a Regulatory solvency ratio to 224%, which compares to 217% in 2018.
As for the collection, in the segment Life it grew by 19,6%, to 13,632 billion, with premiums equal to 48,260 billion, an increase of 4,5% above all thanks to the trend observed in the second half of the year. Segment awards Danni, equal to 21,526 billion, rose by 3,9%. Premium income in the motor sector increased by 2,4%, that in the non-motor sector by 3,8%.
“Generali closed 2019 with the best operating result in its history and with excellent capital solidity, consolidating its position among the global leaders in the sector – he comments Philippe Donnet, Group CEO – The results confirm that we are fully in line with all the objectives of the Generali 2021 strategic plan. The disciplined implementation of the strategy has led to profitable growth in all business lines and has also made it possible to increase the diversification of the sources of profit, with Life net inflows at excellent levels and the best Combined Ratio among peers”.
As for the prospects for 2020, "in a context of greater uncertainty and volatility linked to the further spread of Covid-19, on whose medium-term impacts it is currently not possible to make a reasonable estimate - reads the group note - the Our focus remains the disciplined execution of the strategy. Generali promptly implemented a series of initiatives to ensure business continuity and to protect the health of the people who work for the Group and its customers".
In this regard, Donnet added that "the priority is to safeguard people's health and well-being, guaranteeing the continuity of all our activities and fully maintaining the levels of offer and service to customers".
The board of directors of Assicurazioni Generali has decided to set up an International Extraordinary Fund of up to 100 million euros to deal with to the Covid-19 emergency internationally. The Fund, whose interventions will mainly be aimed at Italy, but also in the other countries in which Generali operates, envisages immediate initiatives to respond quickly to the emergency.
Generali has convened the shareholders' meeting for 27 April, but there is a very important governance change in sight: Mediobanca (the company's first shareholder) will no longer draw up the list of candidates for the board but it will be the outgoing board to propose it. From 2022, Generali will thus move from the mediobanca list to the board list, with all that follows.
