Milano Assicurazioni S.p.A.: consolidated report at june 30, 2009 approved

Corporate: Financial
Tuesday, August 4, 2009

Total premiums written of euro 2,155 million (euro 2,267 million in 1h2008*)

 

Solid group balance sheet confirmed: solvency margin of 2005

 

Direct premiums written

  • Non-Life division: Euro 1,630.2 million (-2%)
  • Life division: Euro 520.5 million (-13.1%)

Technical performance

  • Combined operating ratio increased to 95% from 89.1%; Combined ratio to 100.2% from 94.4%

Operating costs

  • Management expenses of Euro 339 million - 16.6% of net premiums

Net profit for the period

  • Net Profit of the Group Euro 50.7 million (Euro 135.5 million in 1H2008)

Balance Sheet

  • Shareholders’ Equity Euro 2,031.3 million (Euro 2,084.6 million at 31/12/2008)
  • Solvency Margin approx. 205%, substantially in line with the end of 2008

*Pro-forma data

In a meeting chaired by Fausto Marchionni, the Milano Assicurazioni S.p.A. Board of Directors approved the consolidated results for the first half of 2009.

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