Unipol Gruppo: consolidated results approved at 30 September 2023

The income statement and balance sheet figures relating to the first nine months of 2023 were drawn up in accordance with the new accounting standard IFRS 17 on insurance contracts which came into force on 1 January 2023 and accounting standard IFRS 9 on financial instruments which now also applies to insurance companies. The new accounting standards were also applied retroactively to the figures reported for 2022 to facilitate comparison on a like-for-like basis only.

The Unipol Group ended the first nine months of 2023 with a consolidated net profit of €769m compared to a consolidated net profit of €854m for the corresponding period of the previous year which had been recorded using the accounting standards previously in effect and reflected extraordinary components of approximately €275m linked to the pro rata consolidation of BPER Banca. The figure from the first nine months of 2022 which was recalculated using the new accounting standards for comparison purposes would have been €495m.

Direct insurance income, including reinsurance ceded, stood at €10,570m in the first nine months of 2023, up 7.5% on the figure of €9,834m recorded at 30 September 2022.

• Consolidated net profit of €769m (€854m at 30 September 2022, calculated with the accounting standards previously in effect)
• Direct insurance income €10.6bn (+7.5% compared to 30 September 2022)
  • Non-life: €6.1bn (+3.8%)
  • Life: €4.5bn (+12.9%)
• Income up in all Ecosystems:
  • Mobility: €3.1bn (+1.0%)
  • Welfare: €1.3bn (+9.2%)
  • Property: €1.7bn (+5.3%)
• Combined ratio: 98.6%
• Solvency ratio 218%

Read the complete Press Release.