Generali Group

          where we are



          Our strategic plan Generali 2021, “Leveraging strengths to accelerate growth” is aligned with the Group’s stated ambition to be a Lifetime partner to its customers, offering innovative, personalized solutions thanks to its unmatched distribution network.

          The strategic plan Generali 2021, approved by the Board of Directors of Assicurazioni Generali S.p.A on November 21st 2018, will allow us to lead the European insurance market for individuals, professionals and SMEs, while building a focused, global asset management platform and pursuing opportunities in high potential markets.

          Our Company today is a leader for insurance in Europe with about €70 billion of premiums and a distribution network comprising 156,000 people (data as of year-end 2019). Following a comprehensive and successful financial (2012- 2015) and operational (2016-2018) turnaround, we have delivered best-in-class technical and operational performance.

          Download the press release of November 21st 2018 530 kb  
          Download the presentation of the strategic plan 3 mb  

          Generali Group CEO Philippe Donnet presents the new strategic plan

          OUR PURPOSE

          Insurance industry is continuously evolving, as well as our customers’ needs and dreams. Our culture drives the strategy and our purpose, enable people to shape a safer future by caring for their lives and dreams, is the reason why we exist and it inspires and motivates us.


          Our strategic plan will continue the evolution of the business and is centered around four key differentiating convictions.

          • European insurance markets will remain attractive. High private wealth accumulation will support the sale of Life and Asset Management products, while demographic trends and reduced public spending will drive the development of pension, health and welfare services.
          • The Retail and SME markets are driving profitable growth. Retail customers will play a key role in future insurance markets, while the SME segment is a key opportunity in core markets like Italy and Germany.
          • An integrated Insurance and Asset Management offer is key for customers worldwide. Customers are seeking integrated Life and Asset Management products to protect and grow their assets, while macro and demographic shifts are increasing demand for innovative P&C and Health solutions. This integration reflects the shift in focus from ‘products’ to ‘customers’ and from “protection and indemnity” to “prevention and servicing.”
          • Physical distribution is empowered and not replaced by digital platforms. Physical distribution networks will remain a competitive advantage in the industry as they are increasingly enabled by digital tools, which will allow for the delivery of higher customer satisfaction, productivity and efficiencies.


          • Growing Earnings per share. We are committed to delivering with a target CAGR of 6% to 8% for the period 2018-21. There will be a number of contributors to this target including increased core profitability from Generali’s insurance and asset management businesses, greater efficiency with an additional expense reduction target, active management of interest expenses and redeployment of capital to support profitable growth initiatives.
          • Growing dividend. We are committed to a growing and sustainable dividend underpinned by a target pay-out ratio range of 55% to 65% over the plan period.
          • Higher return for shareholders. Attractive profitability will be delivered through a target average Return on Equity of more than 11.5%.

          To know more about our 2018-2021 financial targets and about the achievement of the targets of the previous plan visit the section Goals and Results.


          Our strategy is built on three strategic pillars which include initiatives that will each contribute towards delivery of the financial targets.

          1. Profitable Growth
          • We will strengthen our leadership in Europe, in particular consolidating our leadership in Italy and Germany, investing in growth markets (CEE) and in developing segments (health, benefits, assistance).
          • We will focus on high-potential insurance markets, both at geographical level – Asia and Latin America – and at market segment level (SMEs, employee benefits, value-added insurance services).
          • We will develop a global asset management platform, starting from our strong European base. We will continue to expand the multi-boutique product platform and accelerate our expansion with disciplined acquisitions.
          1. Capital Management and Financial Optimization
          • We will increase capital generation, in particular through the improvement of the share of capital-light Life products, the growth of fee-based revenues and P&C, health and protection businesses.
          • We will enhance cash remittance, through the enhancement of cash generation at operating entities and the increase of remittance level of fungible capital to holding.
          • We will reduce debt level and cost.
          1. Innovation and Digital Trasformation
          • We want to become a "Lifetime" partner to our customers, supporting them with 360° advisory and expanding the coverage of comprehensive 24/7 assistance proposition.
          • We will enable the digital transformation of distribution, also through the digitalization of the agent-customer relationship.
          • We will transform our operating model, to further simplify processes and organization, scale up automation and Artificial Intelligence in core operations and increase the share of end-to-end digital policies.


          The execution of the plan will be supported by three key enablers.

          • People. We will empower our people, nurturing global and diverse leaders and talents, while rewarding excellence. We promote an agile and adaptive organization with 100% smart working, and we will help staff acquire new digital skills, with the aim of meeting a 50% target by 2021.
          • Brand. We will ensure a consistent and distinctive brand experience built around the promise of becoming a life-time partner for its customers. We are targeting the best relationship Net Promoter Score among the European International players.
          • Sustainability. The strategy Generali 2021 is not only aligned with our sustainability commitments but we also commit to grow green and social retail products by 7%-9% and to allocate €4.5 billion to green and sustainable investments by 2021. Key initiatives with strong sustainability footprints include Responsible Consumers scheme and the EnterPrize award for sustainable SMEs.