Launch of Opening New Ways The new 2022-2024 Strategic Plan of Gruppo Unipol

Corporate: Financial
Friday, May 13, 2022 - 06:57

Financial and industrial targets up compared to the 2019-2021 Strategic Plan

Consolidated results at 31 march 2022 approved

Opening New Ways plans to expand the position of UnipolSai by continuing to “open new ways” in the Mobility, Welfare and Property ecosystems and in Bancassurance.

The new plan uses the distinctive assets of UnipolSai as leverage and is based on five strategic guidelines.

The board of directors of UnipolSai S.p.A., which met yesterday under the chairmanship of Carlo Cimbri, approved the Strategic Plan for the 2022-2024 three-year period “Opening New Ways” and the consolidated results at 31 March 2022.

Carlo Cimbri, Chairperson of UnipolSai, said “we present the first strategic plan for a new chapter in the history of Unipol today. This group has the ability to reinvent itself and give continuity to governance, create value for shareholders and foresee new requirements, expectations and the need for protection by the public and businesses, encouraged by our leadership in the mobility, welfare and property ecosystems. Innovation and the digital evolution will guide the development of the group over the next few years, opening new ways in the core insurance business in line with our strategic vision”.

Matteo Laterza, Chief Executive Officer of UnipolSai, said “we have a strong market position and distinctive assets on which we intend to capitalise in a complex economic and market context to reinforce our leadership in the insurance world and expand our presence in the mobility, welfare and property ecosystems. We have set financial and industrial targets with Opening New Ways, and paid close attention to shareholder remuneration and maintaining a solid capital base, in keeping with Group tradition”.

UnipolSai has always devised strategies aimed at creating value for all its stakeholders on the basis of the following distinctive assets.

Consolidated results as at 31 March 2022:

  • Consolidated net profit €203m
  • Direct insurance income €3.4bn (+8.4% compared to 31 March 2021)
    • Non-life business: €2.0bn (+5.5%)
    • Life business: €1.4bn (+12.9%)
  • Combined ratio net of reinsurance at 93%

Please read the full Press Release.