2010 consolidated financial statements approved: the UGF Group returns to profit and to the name of 'Unipol'
Thursday, March 24, 2011
- Consolidated profit €71m (-€769m in 2009)
- Positive progress in Non-Life business:
- Combined ratio 102.1% (108% in 2009)
- Significant fall in MV TPL claims reported (-14%)
- Improved profitability in Life business: new business margin up to 21.6%, from 19.3% in 2009
- Continuing financial strength (solvency margin approximately 1.3 times the regulatory requirements)
- UGF Banca Group returns to profit (€6m compared with -€24m in 2009)
- ‘Unipol Gruppo’ will be the new brand name of the holding company, ‘Unipol Assicurazioni’ and ‘Unipol Banca’ the brand names of the main operating companies