Generali Reports Strong Q1 2025 Financial Results
Italian insurance giant Generali has announced significant growth in its first quarter 2025 financial results. The company’s operating result grew by 8.9% to EUR 2.1 billion, driven by strong performance across all business segments.
The Property & Casualty (P&C) segment led the growth, with an 18.7% increase in operating result to EUR 1 billion. This was primarily due to robust top-line expansion and continued improvement in margins. The combined ratio improved to 89.7% from 91.0% in Q1 2024, reflecting positive developments in loss and expense ratios.
Gross written premiums reached EUR 26.5 billion, a slight increase of 0.2%. The P&C segment showed strong growth of 8.6%, particularly in non-motor insurance, driven by performance in Italy and Germany. In the life insurance segment, net inflows exceeded EUR 3 billion, particularly in protection and health business lines. However, gross written premiums in life insurance decreased by 4.5% to EUR 16.2 billion due to a comparison with a particularly strong first quarter in 2024.
New business volumes decreased to EUR 17.3 billion (-9.3%), primarily due to an exceptionally strong Q1 2024 which benefited from some extraordinary effects. Despite lower volumes, new business value remained robust at EUR 822 million, with increased profitability of new business production.
Generali maintained its solid capital position, with a solvency ratio of 210% as of Q1 2025. The company’s eligible own funds stood at EUR 49.4 billion, with a solvency capital requirement of EUR 23.5 billion. The strong capital generation was supported by both life and P&C segments.
The company’s financial performance demonstrates its ability to maintain strong growth across various business segments while maintaining a robust capital position.
