Assicurazioni Generali, still too distant on the stock exchange from its rivals Axa and Allianz. Donnet under discussion
General Insurance returns to the highs in Bag since the summer of 2008. Although Leone’s capitalization is still far from that of its main European competitors Axa (France) e Alliaz (Germany), analysts imagine new growth spaces for the Trieste company.
To date, the market capitalization of General Insurance is equal to 38.3 billion euros, practically a split compared to the 76.17 billion Axa. But recently, Nordea World Fund has decided to include the Lion in its investments instead of its French competitor. Furthermore, as he writes Milan Financethe analysts of Autonomous Research they promoted the company up to “outperform“, setting a target price of 26 euros.
However, at the moment Generali is still only third on the podium compared to Axa and Allianz, but is gradually closing the gap. Furthermore, since the first strategic plan of the current CEO of the group was presented, Philippe Donnetin November 2016, until the stock market close on Thursday 8 May, Generali’s total shareholder ratio was 210%.
Definitely superior to that of Allianz (154%) and also 167% of Switzerland Zurich. Even looking exclusively at stock market performance over the same period, General it returned 107%, surpassing 73%. Allianz and 70% of Zurich.
Attention, as reported Milan Financeit is now all on the accounts for the first quarter of 2024. Available from Tuesday 21 May, the day after the meeting of the board of directors, the results are expected to grow also thanks to the lower impact of the natural disasters (nat cat) which, between hailstorms and floods, had heavily weighed on Italy’s results in 2023.
But even more important will be the definition of the new 2025-2027 plan, which the management has already started working on and which will be ready by January 30th. “It will once again be very ambitious, based on sustainability and innovation, and oriented towards the long term,” the current CEO of Leo recently declared Philippe Donnetrecalling that, since his inauguration in March 2006, the growth of the dividend has been constant and for the future “the most advantageous balance between m&a and share buybacks” will be sought.
But that is not all. Against the backdrop of this momentum of the Lion’s title, the appointment for the 2025 spring assembly also appears which will have to renew board And ceo. In detail, this time the possibilities for Caltagirone and for the Dolphin driven by Francesco Milleri (orphan of Leonardo Del Vecchio) are superior at least in terms of being able to impose themselves in laying siege to the current CEO Donnet, a strategy that the two very rich financiers are pursuing to try to reach a new “dimension”.
Among other things, the doubts of Milleri and of Caltagirone (large absentees at the assembly which, last April, approved the 2024 budget). On the other hand, although Leo has always brought home rather interesting accounts with profits and dividends distributed in spades, it has never managed to reach a market capitalization comparable to its two competitors, which, however, have grown since Donnet reached the top of Leo, while the capitalization of General has remained substantially unchanged.
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