Assicurazioni Generali S.p.A. Q3 2025 Earnings Recap

Generali Group delivered robust growth in its P&C segment and maintained strong margins in Q3 2025, confirming progress on its Lifetime Partner 27 strategy amidst an evolving market.

Key Takeaways

• P&C top line increased by over 7% year-to-date, with an undiscounted combined ratio improving by more than 2 percentage points.
• Life net inflows surpassed €10 billion, driven by effective distribution and reduced surrenders in key markets.
• New business margin improved to 5.74%, with over 73% of new production carrying no guarantees, emphasizing ongoing underwriting discipline.
• Continued investment in automation and digitalization is poised to enhance efficiency and profitability in the P&C value chain.
• Generali is committed to scaling successful initiatives across countries, leveraging machine learning and advanced analytics in claims processing.