Consolidated Results as at 31 March 2019
The Unipol Group ended the first quarter of 2019 with a consolidated net profit of €171m, significantly up on the normalised profit on a comparable basis of €144m for the corresponding period of the previous year. The book profit of €472m in the first quarter of 2018 was influenced by the capital gain of €309m generated by the sale of UnipolSai’s investment in Popolare Vita S.p.A. on 29 March 2018.
Direct insurance income, including reinsurance ceded, stood at €3,322m in the first quarter of 2019 (€3,292m as at 31 March 2018, +0.9%). Excluding the income from Popolare Vita S.p.A. and its subsidiary Lawrence Life in the first quarter of 2018, Group income was up by 4.2%.