Media release ,  22.5.2025

RESULTS OF THE GENERALI GROUP AS OF MARCH 31, 2025

Generali reports strong growth in operating result thanks to all business segments. Solid capital position confirmed

• Gross written premiums reached € 26.5 billion (+0.2%), driven by the strong performance of P&C (+8.6%), especially in Non-Motor
• Life net inflows exceeded € 3.0 billion thanks to all business lines, particularly Protection & Health
• Combined Ratio improved substantially to 89.7% (-1.4 p.p.). The undiscounted Combined Ratio also continued its very positive development to 92.0% (-1.7 p.p.)
• Operating result grew significantly to € 2.1 billion (+8.9%), thanks to the contribution from all business segments, led by strong P&C performance
• Adjusted net result increased to € 1.2 billion (+7.6%). Adjusted EPS rose even more strongly to € 0.79 (+9.4%)
• Solid capital position confirmed, with Solvency Ratio at 210% (210% FY2024)

Cristiano Borean, CFO Generali Group

«In this first quarter, Generali achieved continued strong growth in both operating and adjusted net result, showing a very positive start to our new strategic plan ‘Lifetime Partner 27: Driving Excellence’ thanks to the contribution of all business segments. Our P&C business benefitted from healthy top-line growth, mainly driven by the Non-Motor line, as well as from a continued improvement in the Combined Ratio.

The Life business recorded significant net inflows, with our preferred areas of Protection & Health and Hybrid & Unit-Linked both performing strongly. Asset & Wealth Management provided a solid contribution to the Group operating result, mainly supported by the consolidation of Conning Holdings Limited. Our diversified profit sources and solid capital position driven by excellent cash generation will allow the Group to successfully implement the new strategic plan and create value for all our stakeholders.»

The press release of the international Generali Group is available for download.