2010 consolidated financial statements approved: the Ugf group returns to profit and to the name of 'Unipol'
Thursday, March 24, 2011
- Consolidated profit €71m (-€769m in 2009)
- Positive progress in Non-Life business:
- Combined ratio 102.1% (108% in 2009)
- Significant fall in MV TPL claims reported (-14%)
- Improved profitability in Life business: new business margin up to 21.6%, from 19.3% in 2009
- Continuing financial strength (solvency margin approximately 1.3 times the regulatory requirements)
- UGF Banca Group returns to profit (€6m compared with -€24m in 2009)
- Unipol Gruppo’ will be the new brand name of the holding company, ‘Unipol Assicurazioni’ and ‘Unipol Banca’ the brand names of the main operating companies
Unipol Gruppo Finanziario S.p.A's Board of Directors met today to approve the draft individual accounts, the consolidated financial statements and the sustainability report for 2010.
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