STRATEGIC GUIDELINES
On 14th of May 2010 Unipol Gruppo Finanziario presented its 2010-2012 Business Plan.
Mission
To guarantee sustainable and long-term growth along with adequate profitability through a fair relationship with all our stakeholders: shareholders, customers, agents, employees, and providers
Strategic targets
• enhancing our traditional presence in the territory and our relationship with labour organizations
• distinguishing ourselves in the offer of products and services to retail customers and SMEs
• becoming Leader in welfare services (pension schemes, assistance, health care)
• maintaining our capital strength
• producing long-term profitability by creating value for shareholders
Guidelines
PROFITABILITY
- recovery of ‘structural’ profitability in Non-Life business
- increase in Life business margin
- results consolidation in Banking sector
TARGET MARKETS
- focus on retail and SME segments, especially in ‘traditional markets’, i.e. trade unions, self-employment organizations and cooperatives
OPERATING EFFICIENCY
- organization set-up restructuring
- evolution of IT platform focusing on distribution and efficiency in customer service
- rationalization and control of running costs
CAPITAL STRENGTH
- capital strength to support business development and meet the necessary capital requirements
- decision-making based on capital absorption profitability
- optimization of risk/reward profile
SUSTAINABILITY
- strategic approach to Sustainability aimed at enhancing the Company’s identity and features as key drivers of its competitive position
Key Targets
2012 Targets 2009*-2012 delta
Direct premiums €4.6bn (Non-Life) + 2.9% cagr
€3.1bn (Life) + 12.4% cagr
Non-Life combined ratio (direct business) 97.5% - 10.5 pp
Life new business margin 25% + 5.6 pp
Banking net profit €50m + €74m
Consolidated net profit €250m n.m.
Solvency ratio 1.4 x (Solvency I)
1.5 x** (Solvency II) stable
* pro-forma
** Solvency II calculation made on assumptions based on the last regulatory indications. The results shown could change if the Solvency II rules differ from the proposed ones adopted so far.