Generali announced its fiscal year 2024 (FY 2024) results, with earnings rising 1.1% year-on-year (YoY) to 4.58 billion(€4.2 billion).The insurer also reported a 14.9103.77 billion (€95.2 billion), driven by robust performance in its Life and Property & Casualty (P&C) segments.
Key Highlights:
- Gross Written Premiums: Up 14.9% YoY to $103.77 billion (€95.2 billion).
- Life Segment Growth: Premiums surged 19.2% YoY, with new business value (NBV) in Asia skyrocketing 49.2% YoY to $204.92 million (€188 million).
- P&C Segment Growth: Premiums increased 7.7% YoY, while the operating result rose 8.7% YoY.
- Dividend Increase: Proposed dividend per share grew 11.7% YoY to $1.56 (€1.43).
Segment Performance
Generali’s Life segment demonstrated exceptional growth, particularly in Asia, where the new business value (NBV) jumped 49.2% YoY to $204.92 million (€188 million). This growth underscores the region’s increasing demand for life insurance products.
The Property & Casualty (P&C) segment also delivered strong results, with gross written premiums rising 7.7% YoY and operating results increasing by 8.7% YoY. This performance reflects the company’s ability to capitalize on market opportunities and maintain operational efficiency.
Shareholder Returns
Generali’s board has proposed a dividend per share of $1.56 (€1.43), marking an 11.7% increase compared to the previous year. This move highlights the company’s commitment to delivering value to its shareholders amid a challenging economic environment.
Outlook
Generali’s FY 2024 results reflect its resilience and strategic focus on high-growth markets, particularly in Asia. The company’s ability to achieve double-digit premium growth across key segments positions it well for sustained profitability in the coming years.
Note: All figures are converted at an exchange rate of $1.00 = €0.92.
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