Generali
Note: This is a daily stock update and the information stands true as of 22/05/25, 09:00 CET.
Company Update:
Expert Opinion:
Generali share price had a great run fueled by the general strong performance of the insurance sector as well by the speculation around its capital. Valuation remains attractive with a PE26 at 11.9x down to 8.3x for 2027. Our expert still likes insurance overall. Allianz and Axa are very solid companies with slightly better valuation ratios but Generali benefits from the global reshuffling of the financial industry in Italy. A riskier bet than Allianz or Axa but interesting nonetheless.
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Company Update:
Generali reported its Q1 25 results, with topline coming in below expectations due to a decline in Life Gross Written Premiums (GWP), but better-than-expected profitability, particularly in P&C.
Total GWP increased slightly by 0.2% year-on-year to €26.5bn. This reflects strong growth in P&C (+8.6% y/y), which was offset by a 6.3% decline in Life GWP, attributed by the group to a high base of comparison in Q1 2024.
The operating result rose 8.9% year-on-year to €2,067m, 1.7% above consensus, driven by a robust P&C performance (+18.7% year-on-year and 7% above consensus).
The combined ratio improved by 1.4pp to 89.7%, beating expectations by 1.2 points.
The Adjusted Net result was €1,204m, up 7.6%, 7% above consensus.
The Solvency II ratio came in at 210%, 2pp below expectations.
A conference call is scheduled at 12:00 pm CEST.
Generali share price had a great run fueled by the general strong performance of the insurance sector as well by the speculation around its capital. Valuation remains attractive with a PE26 at 11.9x down to 8.3x for 2027. Our expert still likes insurance overall. Allianz and Axa are very solid companies with slightly better valuation ratios but Generali benefits from the global reshuffling of the financial industry in Italy. A riskier bet than Allianz or Axa but interesting nonetheless.
For daily updates, subscribe to our newsletter and for detailed information, reach out to us at sales@alphavalue.eu
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