While 2021 had been a watershed year in Exor’s equity story that saw the creation of Stellantis, 2022 was just as important with the completion of the sale of PartnerRe to Covéa, allowing the HoldCo to book a significant €2.4bn capital gain. While the HoldCo’s NAV was not spared by the market turmoil during FY22, H2 was rather positive for Exor’s NAV. 2022 also marked the creation of Lingotto, the investment activity jointly managed by Covéa and Exor with €2.5bn of AuM.
