Comunicato stampa ,  30.1.2025

Generali lancia Lifetime Partner 27: Driving Excellence

Ambiziosi target di crescita per il 2025-2027

• Forte crescita degli utili: 8-10% CAGR dell'EPS
• Solida generazione di cassa: > € 11 miliardi di flussi di cassa netti cumulativi
• Aumento del dividendo per azione: > 10% CAGR del DPS con ratchet policy

Chiaro framework della gestione del capitale, con ulteriore focus sui rendimenti per gli azionisti

• Oltre € 7 miliardi di dividendi cumulativi (2025-27) – circa il 30% in più rispetto al 2022-2024
• Impegno al riacquisto di azioni proprie per almeno € 1,5 miliardi nell’arco di piano
• Buyback pari a € 500 milioni da avviare nel corso del 2025

Priorità strategiche

• ECCELLENZA NELLE RELAZIONI CON I CLIENTI: Rafforzare l'impegno come Partner di Vita, attraverso un’eccellente esperienza del cliente, innovative value proposition di Gruppo e una rete distributiva ulteriormente rafforzata
• ECCELLENZA NELLE COMPETENZE CORE: Accelerare la crescita mirata nelle aree di business preferenziali, rafforzare l’efficienza tecnica e portare a scala le attività del Gruppo per una migliore efficacia operativa
• ECCELLENZA NEL MODELLO OPERATIVO DI GRUPPO: Continuare a centralizzare competenze distintive e servizi condivisi su larga scala per aumentare la produttività e l’efficacia

Fondamenti strategici

Nel triennio 2025-2027 il Gruppo continuerà a essere:

• SOSTENUTO DALLE NOSTRE PERSONE: Consentire alle nostre persone di crescere grazie allo sviluppo continuo delle competenze e a una cultura basata sull’eccellenza, la meritocrazia e la diversità
• SPINTO DALL’AI E DAI DATI: Potenziare le competenze per migliorare l'esperienza dei clienti e della rete distributiva, nonché per aumentare l'efficienza operativa e l'eccellenza tecnica
• ANCORATO SULLA SOSTENIBILITÀ: Generare un impatto positivo in termini economici, per le persone e per il pianeta

Philippe Donnet, Generali Group CEO, said: “Generali has successfully over-delivered against the financial targets of its ‘Lifetime Partner 24: Driving Growth’ plan in a tough global macro environment. We will now accelerate our pursuit of excellence to drive higher earnings growth and cash generation, targeting increased shareholder returns with double-digit growth in the dividend per share leading to over €7 billion in cumulative dividends plus a commitment to at least €1.5 billion in share buybacks over the plan horizon, including the €0.5 billion buyback that we are launching in 2025 as presented today.

Thanks to our ‘Lifetime Partner 27: Driving Excellence’ plan, we will further enhance excellence across our customer relationships, our Group operating model and our core capabilities. We will invest in AI, new technologies and upskilling our employees to capture opportunities from emerging trends, fast-changing customer expectations and a rapidly evolving market.

The combination of our market leading P&C and Life business and a global Asset Management platform, that can be further transformed by our proposed partnership with BPCE, is a powerful differentiator that creates significant value. Generali is ready to once again support individuals, families, professionals and businesses, and deliver for all stakeholders throughout our ‘Lifetime Partner 27: Driving Excellence’ plan.”

Venice – At a meeting chaired by Andrea Sironi, the Board of Directors of Assicurazioni Generali approved the Group’s new three-year strategic plan: Lifetime Partner 27: Driving Excellence, which will be presented to the investment community today.

Building on the strong platform established since 2016, and the over-delivery against all key financial targets of the 2022-24 plan, Generali’s new strategy focuses on driving excellence in customer relationships, in its core Insurance and Asset Management capabilities, as well as in its operating model.

Lifetime Partner 27: Driving Excellence will create significant and sustainable value, targeting an EPS CAGR between 8 and 10%. The plan will also target sustained growth in cash generation, reaching over €11 billion of Net Holding Cash Flow (2022- expected 24: ca. €9.5billion), supported by ca. €14 billion of remittance from subsidiaries (2022- expected 24: ca. €11.5billion); in addition, the Group will target normalised capital generation of above €14 billion over the plan horizon (2022- expected 24: over €13 billion). All of this reflects the consistent application of the Group’s capital management framework and a clear commitment to increasing shareholder returns.

As a result, Generali commits to a Dividend per Share (DPS) CAGR of above 10%, targeting more than €7 billion in dividends over the plan horizon, ca. 30% higher than the €5.5 billion distributed during Lifetime Partner 2024.

More than €3 billion have been allocated to share buybacks and other capital deployment (e.g. M&A). The Group has committed to at least €0.5 billion in annual share buybacks, with the amount to be assessed at the start of each year. A €0.5 billion share buyback for 2025 has already been confirmed, subject to AGM and regulatory approval. The Group will assess M&A opportunities with a strict discipline, also benchmarking any potential transaction against share buybacks.

Between €0.5 and €0.7 billion are allocated to internal capital deployment to support business growth and strategic initiatives.

The Group’s new strategic plan is powered by its people, AI & data, and sustainability. Generali will support the further development of its teams by enhancing their technical skills to drive Group-wide innovation and efficiency, while enriching Generali’s powerful agent-led distribution network with the latest AI & data capabilities. Generali retains its deep-rooted commitment to sustainability, with additional targets and investment goals.

Il piano strategico del Gruppo internazionale Generali è disponibile per il download.