Results Center

Preliminary Consolidated Results at 31 December 2022

In 2022, the UnipolSai Group achieved results that were in line with the 2022-2024 Strategic Plan targets, with a consolidated net profit of €651m compared to €723m the previous year.

Direct insurance income, including reinsurance ceded, stood at €13,645m as at 31 December 2022, up (+2.4%) on the amount of €13,329m recorded at 31 December 2021.

Direct non-life income of €8,304m recorded significant growth (+4.5%) over the figure of €7,943m as at 31 December 2021. Along with the other Group companies, UnipolSai contributed to this result with non-life premiums of €6,883m (+2.4%). More specifically, UniSalute collected premiums of €574m (+10.6%) and Arca Assicurazioni reported premiums of €245m (+29.1%), confirming the strategic importance of the relationship with the banking partners through which Group products are distributed.

The direct business combined ratio, as at 31 December 2022, amounted to 91.0% (93.8% net of reinsurance) compared to a figure of 92.5% as at 31 December 2021 (95.0% net of reinsurance). The direct business loss ratio stood at 62.2% (compared to 64.0% in 2021), while the direct business expense ratio stood at 28.8% (compared to 28.5% at 31 December 2021), influenced by a production mix geared more towards higher commission rate products along with higher profit margins.

In the life business, the Group reported direct income of €5,341m, substantially in line (-0.8%) with the figure of €5,386m recorded in 2021, in an unfavourable market context marked by high levels of inflation, highly volatile financial markets and increased interest rates.

Preliminary Consolidated Results at 31 December 2022

651
M €
Consolidated Net Profit
13.6
BN €
Direct insurance income
8.3
BN €
Non-Life business
5.3
BN €
Life business
91
%
Combined Ratio

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