- Operating result in excess of € 4.2 bln (+10.5%) and total premiums at € 70 bln (+3.2%)
- Strengthened capital position, shareholders’ equity up to € 19.8 bln (+28%). Solvency I at 150% (117% FY11)
- Net profit € 90 mln (€ 856 mln FY11) after € 1.7 bln of net impairments. € 1.3 bln impairments in 4Q due to the detailed asset review, the alignment of policy to international best practice and the Telco share
- Dividend per share at € 0.20 maintained in line with 2011
The Generali Group CEO, Mario Greco, said: “2012 saw the start of a deep transformation of Generali, with today’s results marking a turning point in the evolution of our Group towards international best practice. We have recently outlined a new strategy, built on introducing discipline, simplicity and focus across all our activities. We are simplifying our structure and adopting a more disciplined approach to managing the Group and its investments, as we refocus on our insurance business.”
“The growth in our operating result - Greco added - demonstrates the quality of our underlying business. The progress we have made to date in improving our Solvency I ratio is evidence of the capital-strengthening plans we have already initiated and will continue to implement over the coming years. Maintaining a stable dividend is a testament to our continued commitment to providing appropriate returns for our shareholders, even at a time when we are focused on strengthening our capital position.”
For more information, please visit the Generali Group website www.generali.com