Milano Assicurazioni S.p.A.: consolidated half-year report at june 30, 2010 approved

Total direct premiums written of euro 1,868.6 million (euro 1,856.4 million in h1 2009, +0.7%*)

Direct premiums written*

• Non-Life division: Euro 1,601.9 million (-1.6%)
• Life division: Euro 266.7 million (+16.5%)

Technical performance*

• Combined Operating Ratio of 100.2% from 106.1% in FY 2009 (95% in H1 2009); Combined Ratio (inclusive of technical charges) of 105.4% from 108.9% in FY 2009 (100.2% in H1 2009)

Operating costs* 

• Management expenses of Euro 338.8 million - 18.9% of net premiums

Net result*

• Consolidated group loss of Euro 195.3 million (profit of Euro 50.7 million in H1 2009)

Balance Sheet Solidity*

• Shareholders’ Equity Euro 1,627.5 million (Euro 1,987.9 million at 31/12/2009)

*IFRS 5 data