Generali to achieve 2015 turnaround ahead of schedule
Financial targets in the 2013-2015 completed or nearing completion
| Key financial targets for 2015 | Achievement |
| Profitability | |
| Increase Operating RoE to 13% | Ahead of schedule |
| Achieve €750 mln cost saves (€1 bln by 2016) | On track |
| Capital and leverage | |
| Increase Solvency I to above 160% | ✓ Achieved |
| Generate app. 20 p.p. of Solvency / disposals of app. €4 bln of non-core assets | ✓ Achieved |
| Reduce leverage, interest cover to app. 7x | On track |
| Cash generation | |
| Generate Free surplus above €2 bln | ✓ Achieved |
| Reach remittance ratio above 75% | On track |
Generali preparing for what comes next: The next stage of our strategic vision to be presented in May 2015
In the P&C segment high technical profitability with an improved combined ratio at 93.6% (95% 9M13)
The Generali Group CEO, Mario Greco, stated: “Over the past two years Generali has relentlessly pursued a strategy to fundamentally transform its business without calling upon the help of shareholders. We have delivered on our promise and through discipline, simplicity and focus we have achieved a goal which many thought would not be possible, especially given the challenging macro-economic environment we operate in. We commend all of our people for having exceeded expectations to substantially complete our turnaround one year ahead of plan making this group a leading example in the sector. Today we present to investors on our four key markets so they can see in detail the fruits of the tireless work of the past two years and the strong foundations we have. Upon them we will build the next chapter of Generali. We turn to planning for our future with the confidence that comes from a job well done”.
For more details, please consult the Generali Group Press Release