Unipol Group: 2012 financial statements approved
Thursday, March 21, 2013
Pro forma stand alone Unipol Group:
- Consolidated net profit €241m (€225m forecast of the 2010-2012 Business Plan)
- Combined ratio further improved to 94.2%, compared with 95.4% in 2011 and 97.5% as forecast in the Business Plan
- Non-Life direct premiums €4.2bn (-2.5% compared with 2011)
- Life direct premiums €2.5bn (+1.8% compared with 2011), pro rata APE + 3.7%
- Solvency margin about 2.1 times the statutory requirements (1.6 without considering the capital increase of 2012)
Unipol Group under the new consolidation scope:
- Consolidated net profit €441m, including:
- consolidated loss of Premafin/Fondiaria-SAI Group €889m (referred to the second half of 2012)
- benefit of €1,089m resulting from the application of IFRS 3
- Solvency margin about 1.6 times the statutory requirements, excess capital of €2.6bn
Profit of Unipol Gruppo Finanziario S.p.A. amounting to €195m
- Proposed dividends: €0.15 per Unipol ordinary share (Dividend Yield 7.5%) and € 0.17 per Unipol preference share (Dividend Yield 9.4%).