Unipol Group: 2011 financial statements approved. In Non-Life, Business Plan targets laid down for 2012 achieved a year ahead of time - Integration Plan between the Unipol Group and the Fondiaria SAI Group - Guidelines
Thursday, March 15, 2012
- Non-Life business:
- Combined Ratio 95.5% (102.1% in 2010; 99.6% and 97.5%, respective of the 2011 and 2012 targets under the Business Plan)
- Direct premiums €4,333m (+2.1% compared with 2010)
- Life business: new business value (NBV) in 2011 approx. €50m (€42m in 2010)
- Solvency margin 1.4 times the statutory requirements; excess capital €900m
- Consolidated net profit before impairment of the goodwill of Unipol Banca €226m (-€94m after impairment)
- Direct third party customer deposits +10.2% compared with 2010. Improvement in the gap between third party customer deposits and lending of approximately €600m
INTEGRATION PLAN BETWEEN THE UNIPOL GROUP AND THE FONDIARIA SAI GROUP AS PREPARED BY UNIPOL GRUPPO FINANZIARIO S.p.A. - GUIDELINES
- 2015 targets:
- Non-Life premiums of approx. €10.5m; Life premiums of €7.1m
- Combined Ratio of approximately 93%
- Net synergies valued at more than €300m
- Estimated net profit of around €1bn
- Solvency margin approximately 1.5 times the statutory requirements