1H2018 Consolidated Results
The Board of Directors of Unipol Gruppo S.p.A., which met yesterday under the chairmanship of Pierluigi Stefanini, approved the consolidated results of the Group as at 30 June 2018.
The Unipol Group made a consolidated net profit of €644m in the first six months of the year, including a capital gain of €309m from sale of the investment in Popolare Vita S.p.A. (in the first half of 2017, the consolidated net loss of €390m included charges of €780m related to the banking business restructuring plan).
The pre‐tax profit of the insurance business amounted to €852m (+46.9% compared to the figure of €580m recorded in the first half of 2017). The Non‐Life business contributed €329m to this result (‐ 10.5% compared to €368m in the first six months of 2017 which had the benefit of a higher contribution from financial management), and the Life business contributed €523m (+146.7% compared to €212m in the first six months of 2017, taking account of the sale of Popolare Vita).
Direct insurance income, including reinsurance ceded, stood at €6,258m in the half‐year period just ended (€6,327m in the first half of 2017, ‐1.1%). Income from the new Group operating area, not including income from the two companies that were sold in the half‐year periods in question, Popolare Vita S.p.A. and Lawrence Life, amounted to €6,153m (up 4.8% compared to €5,870m as at 30 June 2017).