Philippe Donnet is more than Confident about the Future of Generali.

Generali Group CEO Philippe Donnet underscores the significant impact of recent acquisitions on the firm’s standing as a premier European insurer, alongside the global expansion of its Asset Management arm.

The acquisition of Liberty Seguros, unveiled in June 2023, is anticipated to bolster Generali’s competitiveness, projecting an annual contribution of over €250 million to its Pre-Tax Profit by 2029. This move fortifies the Group’s foothold in Spain and Portugal, aligning with Generali’s Iberian operations. Additionally, it grants Generali entry into the lucrative Irish P&C market.

Furthermore, the Conning acquisition, announced in July 2023, is poised to expedite Generali’s Asset Management vision and facilitate its penetration into the US market. The synergy with Conning, coupled with a strategic partnership with Cathay Life, promises avenues for expansion, particularly in Asia, with anticipated annual synergies of €70 to €80 million within five years.

Generali highlights the burgeoning significance of its Protection, Health, and Accident (PH&A) segments, constituting 22% of Gross Written Premiums in 2022.

In light of these developments, Generali plans to propose a €500 million share buyback initiative at the upcoming AGM in April, subject to requisite approvals. Philippe Donnet underscores the firm’s commitment to its strategic plan, “Lifetime Partner 24: Driving Growth,” emphasizing the confluence of profitable expansion, value creation, and ongoing sustainability efforts.

Donnet affirms Generali’s confidence in executing its strategic agenda and underscores the proposed share buyback as a testament to the Group’s robust financial standing and commitment to shareholder value.

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