Unipol Gruppo: consolidated results for the first half of 2018 approved
Friday, August 10, 2018 - 06:46
- Consolidated net profit of €644m (‐€390m in the first half of 2017) including a capital gain from sale of the investment in Popolare Vita S.p.A. (€309m)
- Direct insurance income of €6.2bn, not including Popolare Vita
- Non‐Life business: €4.0bn, in line with the first half of 2017
- Life business: €2.1bn (+16.4%)
- Sharp increase in Non‐Life business performance: Direct business combined ratio of 93.0% compared to 95.3% in the first half of 2017
- Pre‐tax profit of €18m in the Banking business compared to ‐€940m loss in the first half of 2017
- The coverage ratio of non‐performing loans in the Banking business amounted to 77%, with 46% coverage of unlikely‐to‐pay loans, at the best levels in the market
- Reported consolidated solvency ratio 160%
- Individual reported solvency ratio for UnipolSai of 252%
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