Results Center
Consolidated Results as at 31 December 2023
The Gruppo Unipol recorded a consolidated net profit of €1,331m for FY 2023, which includes a positive amount of €267m of badwill, recorded using the equity method to reflect the first-time consolidation of the stake in Banca Popolare di Sondrio (following the acquisition by Unipol Gruppo of 10.2% in the Bank increasing the overall stake of the Group to 19.7%). The net profit, excluding said extraordinary item, amounts to €1,064m.
Direct Insurance Income, including reinsurance ceded, stood at €15,060m as at 31 December 2023, up (+10.4%) on the amount of €13,645m at 31 December 2022.
There was growth of 4.2% in direct Non-Life income to €8,651m, compared to the figure of €8,304m at 31 December 2022.
The combined ratio7 amounted to 98.2% at 31 December 2023.
In the Life Business, the Group reported direct income of €6,409m, substantially up (+20.0%) on the figure of €5,341m recorded in 2022.
Consolidated Results as at 31 December 2023
