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Generali Investor Day 2010 - page 15 / 40

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  • I.

    Generali Portfolio

  • C.

    Real Estate within Generali: Key Performance Indicators (1/3)

Direct Portfolio 31%

33%

31%

29%

29%

118

343

627

352

260

4.1%

4.2%

4.5%

4.5%

Catch momentum and value creation

3.8%

2006

2007

2008

2009 2010e

Recurring Returns %

Latent Capital Gain %

Realised Capital Gain (Euro m)

  • Net Operating Income Increases thanks to active management (risk return profile)

  • Net Realised Capital Gain: Regular stream to support insurance profitability

  • Continue value creation: Latent capital gain at 30% over the period

Source: Financial Statements and management account Recurring return %: (Rental Income – operating expenses, i.e. maintenance, insurance)/Market Value Latent Capital Gain %: (Market Value – Book Value)/Market Value; Realised Capital Gain: Sales Price – Book Value

Assicurazioni Generali Group – Investor Day 2010 – Investment Management of Insurance Assets

15

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