Venice (Reuters) – Generali announced Thursday planning to donate more than 8.5 billion euros to its shareholders in the form of dividends and share buybacks until 2027 as part of its new strategic plan.
The Italian insurer indicates that it has allocated 1.5 billion euros to its mergers and acquisition projects, after having signed this month a memorandum of understanding with BPCE to create an asset management joint venture which would hold more 1,900 billion euros in assets.
He also undertook to increase the profit per share (BPA) by 8% to 10% per year on average over the period 2025-2027, with a net cash flow greater than 11 billion euros.
Generali said that share buybacks would amount to at least 1.5 billion euros, including 500 million euros for 2025.
As part of the presentation of the strategic plan, the director general Philippe Donnet, whose mandate at the head of Generali ends in the spring, said he was ready to stay in the management of the company.
Philippe Donnet was challenged by several major shareholders in Generali, but he benefited from the support of the main investor of the group, MediBanca.
(Written by Gianluca Semeraro, Elena Smirnova, edited by Blandine Hénault)
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