Unipol, profit of 813 million (+ 7%) and premiums of 9.5 billion

MILAN, NOV 12 – Unipol closed the first nine months of the year with a profit of 813 million euros, up 7.2% compared to the same period of 2020. Direct insurance deposits, according to a note, are increased by 9.5% to 9.5 billion, of which 5.5 billion in the non-life sector (+ 0.3%) and 3.9 billion in life (+ 25.7%) while the capital solidity index, solvency ratio stood at 208%. The pro-rata consolidation of Bper’s result contributed to the profit for 155 million euro, which was in turn influenced by extraordinary accounting items linked to the purchase of the former Ubi Banca branches. The first nine months of 2020, Unipol underlines, had been particularly influenced by the reduction in claims following the lockdown and by the slow return to normality in the following summer months, while the restrictions on the movement of people in the first part of 2021 were less significant. The pre-tax result of the non-life sector thus fell to € 843 million, from € 985 million in the same period of 2020, despite benefiting from a contribution of € 76 million deriving from the portion of Bper’s results. The combined ratio, an indicator of the profitability of insurance technical operations, rose to 92.8%, from 86% a year ago. The strong growth in life insurance premiums was influenced by the bancassurance channel where Arca Vita saw premiums more than double (+ 113.4%), to € 1,871 million, benefiting from the expansion of the Bper network, which offset the decline 9.6% of UnipolSai’s direct deposits. The pre-tax result more than tripled to 160 million, from 51 million in 2020. The subsidiary UnipolSai closed the first nine months of the year with a profit of 704 million euros, slightly up (+ 0.5%) compared to to € 701 million in the same period of 2020. The capital strength solvency ratio stood at 330%, up from 318% at the end of 2020. (ANSA).

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