Consolidated Results as at 30 June 2023
The Unipol Group ended the first half of 2023 with a consolidated net profit of €517m, down 24.4% on the consolidated net profit of €684m for the corresponding period of the previous year recorded using the accounting standards previously in effect and which reflected extraordinary components linked to the pro rata consolidation of the BPER Banca result of approximately €279m. The figure from the first half of 2022 which was recalculated using the new accounting standards for comparison purposes, amounted to €433m.
Direct insurance income, including reinsurance ceded, stood at €7,470m in the first six months of 2023, up 12.6% on the figure of €6,632m recorded on 30 June 2022.
Direct income from the Non-life business at 30 June 2023 amounted to €4,325m, an increase (+4.2%) over the figure of €4,152m as at 30 June 2022, with positive performances by all the ecosystems in which the Group operates.
The combined ratio including the reinsurance balance, where the calculation criteria was reviewed in relation to the new income statement presentation provided for under IFRS 17, stood at 97.1% compared to 94.4% recorded in the first quarter of 2023.
The Unipol Group reported direct income of €3,144m in the Life business, posting a significant increase (26.8%) over the figure of €2,480m recorded in the first six months of 2022 due to the acquisition of three new pension funds and the positive performance of the sales networks.