On May 21, Italy's largest insurance group, Generali, released its first-quarter financial results in Milan. The data revealed that, driven by robust performance across all business segments, the group's operating profit for the quarter significantly exceeded expectations. Building on this, the company formally reaffirmed its long-term performance growth targets extending through 2027.
In a statement, Generali noted that its first-quarter operating profit, a key financial metric closely watched by the market, increased by 8.1% year-over-year to €2.23 billion (approximately $2.59 billion). This figure was notably higher than the company's previous estimate of €2.04 billion. The group emphasized that, supported by comprehensive contributions and solid performance across its business segments, it will continue to steadily advance its established strategy. This approach aims to ensure the achievement of its financial target of an 8% to 10% average annual growth in earnings per share through 2027.
While core operations performed strongly, some profit and capital metrics were affected by external factors. The financial report indicated that, due to adverse impacts from financial market volatility on investments measured at fair value, combined with a one-time tax factor of €50 million in the French market, Generali's first-quarter net profit saw a slight year-over-year decrease of 2.2% to €1.17 billion. Despite this, the result still slightly surpassed the general consensus among analysts.
Furthermore, the group disclosed that, influenced by recent market variables, a key indicator measuring the financial strength of insurance institutions—the Solvency Ratio—has declined from 219% at the end of 2025 to 212%. This figure is slightly below the market's expected consensus of 214%.
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