Milano Assicurazioni S.p.A - 2011 preliminary results
The Board of Directors of Milano Assicurazioni S.p.A., meeting today, reviewed the 2011 preliminary results.
The preliminary results confirm the good current operating and management performance already reported during the year 2011 and reflect the impact of non-recurring items - principally the increase in the prior year Motor TPL claims reserves (which resulted from the adoption of more analytical criteria and the refinement of the actuarial models utilised by the Company) and impairments on investments – which resulted in a consolidated loss of approx. Euro 490 million.
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