The Board of Directors of UnipolSai Assicurazioni S.p.A., which met yesterday under the chairmanship of Carlo Cimbri, approved the consolidated results as at 30 June 2018.
The UnipolSai Group ended the first half‐year period of 2018 with a consolidated net profit of €647m, including a capital gain of €309m from sale of the investment in Popolare Vita S.p.A. (in the first half of 2017, there was a consolidated net profit of €282m as a result of the banking business restructuring plan).
The insurance business returned a pre‐tax profit of €815m (+96.0% compared to €416m in the first six months of 2017). The Non‐Life business contributed €312m to this result (+32.8% compared to €235m in the same period of 2017) and the Life business contributed with €503m (+178.1% compared to €181m as at 30 June 2017, taking account of the sale of Popolare Vita).
Direct insurance income, including reinsurance ceded, stood at €5,627m as at 30 June 2018 (in line with the amount of €5,604m collected as at 30 June 2017, +1.4% on a comparable basis1 ). Income from the new Group operating area, not including income from the two companies sold in these half‐ year periods in question, Popolare Vita S.p.A. and Lawrence Life, amounted to €5,522m compared to €5,445m recorded in the same period in 2017.