Consolidated Results for the first half of 2019 approved

CorporateFinancial
Friday, August 2, 2019

Profit and Premium Income grow
Improved Combined Ratio
Solid Financial Strenghth confirmed

  • Consolidated net profit of €740m compared to €644m at 30 June 2018 (+14.9%)
  • Direct insurance income of €7.3bn (+18.5%)
    • Non-Life business: €4.1bn (+2.6%)
    • Life business: €3.2bn (+48.4%)
  • Net of reinsurance combined ratio of 94.6%, an improvement on 95.1% recorded in the first half of 2018
  • Pro forma consolidated solvency ratio of 165%2 considering the effects of the sale of Unipol Banca and the acquisition of NPL portfolios from the BPER Group

Delivery of the first operations reflecting the guidelines set out in the 2019-2021 Strategic Plan:

  • Agreement with all the trade unions on the Solidarity Fund and other forms of voluntary redundancy for approximately 750 employees. The agreement also calls for pro-active policies on employment, including hiring 300 new professionals
  • Purchase of the entire shareholding of Car Server (long-term car rental company) for €96m

Read the complete Press Release.