Fondiaria-Sai: consolidated half-year report at june 30, 2009 approved

Total premiums written of euro 6,449.1 million, +8.8% (euro 5,926.6 million in 1h2008)
Life division premiums written of euro 2,743.5 million (+28.9%)
Solid group balance sheet confirmed: solvency margin of 129%

Italian Direct premiums written

• Non-Life division: Euro 3,701.3 million (-2.3%)
• • Life division: Euro 2,742.6 million (+29%)

Technical performance

• Combined operating ratio rises to 97.9% from 89.2%; Combined ratio to 101.8% from 93.8% - two percentage points of which attributable to catastrophic and natural events
• APE of Euro 253.4 million (+34.2%)

Operating costs

• Total management expenses of Euro 968 million - 14.4% of net premiums (15.9% in 1H 2008) – a decrease of 4% in the Non-Life sector on the first quarter 2009

Net profit for the period

• Consolidated Net Profit of Euro 32.4 million (Euro 261.3 million in 1H2008)

Balance Shee

• Shareholders’ Equity Euro 3,757 million (Euro 3,895 million at 31/12/2008)
• • Solvency Margin 129%, in line with the end of 2008