The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Michael Igor Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Fantastic. And thanks for the lovely KPIs. On the cash conversion, you said it's accelerating. But if I compare the gross cash conversion, the -- I think
EUR 10 billion figure, EUR 10.5 billion. So excluding capital management, EUR 10 billion, and I compare that with the EUR 8.2 billion, which you had
in the previous period, that's about 10%. And our EPS growth is also 7%. So I'm just asking where is the acceleration of cash or where the hope for
acceleration of cash. I'm hoping you'll give me even more.
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DECEMBER 15, 2021 / 8:00AM, GASI.MI - Assicurazioni Generali SpA Investor Day
The second question is the -- I tried to look for ROE. It was a target before, and it's not a target now. I'm sure there's a really good reason I asked my
colleague, and he says, "Well, really, we've any companies on earnings, so it doesn't actually matter." There's no -- but just out of interest, it would
be nice.
And then on the -- my last question is I think in one of the presentation, Switzerland was mentioned with a kind of -- we exclude Switzerland or we
don't like Switzerland or something. I can't remember the precise comment. And I just wondered, if you could say something about the Swiss Life
back book or anything relating to that? And in particular, I think you mentioned EUR 200 million of cash released some Life back book deals. I think
that's a figure. I'm not sure. And I just wondered if that is Switzerland.
Question: Michael Igor Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Yes, of course.
Question: Michael Igor Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: And on my last question, sorry, it was a bit confusing. I think what I was trying to find out is, you mentioned like back book deals in both current
and future account, I think it's EUR 200 million and future EUR 1.5 billion, future potential. I just wondered where Switzerland fits because Switzerland,
I think was mentioned, it's not in the slides, but I think it was mentioned in the presentation as a country where the results are not at the contribution
is not brilliant. I mean it seems to be enough higher.
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DECEMBER 15, 2021 / 8:00AM, GASI.MI - Assicurazioni Generali SpA Investor Day
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