The adapted net result of the Generali Group increases to USD 4.9 billion in 2024

The Generali Group reported an adjusted net result of € 3.8 billion for the year 2024, which was an increase of € 5.4% compared to € 3.5 billion in the previous year.

The group attributed the growth to the positive effects of its diversified sources of winning.

The adjusted result per share for the year rose to € 2.45 compared to € 2.32 in 2023.

The net result for the year recorded a slight decline of € 3.6%of € 3.7 billion.

The consolidated operating result was EUR 7.2 billion, which was an increase of 8.2% compared to € 6.7 billion in 2023.

The company attributed this to the positive performance of all business segments with a contribution by Asset and Wealth Management.

The operating segment result of life contributed € 3.9 billion, which rose an increase of 6.6% compared to € 3.7 billion in 2023.

The operating result of real estate and victims (P&C) also rose by 5.1%and reached € 2.8 billion € 2023.

The gross bonuses for the year rose by 14.9%and reached € 95.1 billion compared to € 82.4 billion in 2023.

Life major written premiums rose to € 61.4 billion in 2024, an increase of 19.2% compared to the previous year, while the written P&C gross premiums rose by € 7.7% to € 33.8 billion.

For the fourth quarter of 2024 (Q4 2024), the company reported an adjusted net result of € 889 million, an increase of € 49.3% compared to € 595 million in the fourth quarter of 2023.

However, the net result recorded a decline of 17.6% and reached € 762 million in the fourth quarter of 2024.

The consolidated operating result for the quarter was EUR 1.8 billion, an increase of 9.2% compared to the same quarter of 2023.

The lifelong result contributed € 947 million, and the P&C operating result was € 842 million.

The group proposed an increase in the dividend by € 11.7% to € 1.43 per share.

Philippe Donnet, CEO of Generali Group, said: “Generali achieved excellent results in 2024, exceeded our financial goals and ended our strategic plan for the lifetime partner 24: growth statue. These results reflect our ability to ensure uniformly organic growth in every segment through the administrative actions we conduct, and at the same time integrate all companies that we have acquired.

“Our ambitious new” lifelong partner 27: Excellence plan “will promote strong growth in profit, solid cash generation and the increasing remuneration for shareholders. This is further reinforced by our AI and data functions, which improve our ability to consistently capture the possibilities through quickly changing customer needs and emerging trends. “

In January, Generali announced a number of stocks worth up to € 350 million.

“Generali Group Adjusted Net result increases to USD 4.9 billion in 2024” was originally created and published by Life Insurance International, a Globaldata brand.

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