Milano assicurazioni S.p.A.: parent company and consolidated financial statements for 2010 approved
Tuesday, March 22, 2011
PARENT COMPANY FINANCIAL STATEMENTS (Italian GAAP)
- Result for the year: loss of Euro 512.7 million (profit of Euro 13.3 million in 2009)
CONSOLIDATED FINANCIAL STATEMENTS (IFRS)
INCREASE OF THE CONSOLIDATED RESERVES RATIO TO 170.5% (163.1% in 2009).
TOTAL CONSOLIDATED PREMIUMS OF Euro 3,631.8 million, substantially stable, despite the difficult market conditions.
LIFE PREMIUMS WRITTEN OF EURO 527.8 MILLION (+6.5%)
- Group Shareholders’ Equity: Euro 1,303.2 million (Euro 1,881.9 million at the end of 2009)
- Consolidated Result: loss of Euro 668.7 million (loss of Euro 140 million in 2009)
Combined Con. Operating Ratio 111.8% 2010
Combined Con. Operating Ratio 106,1% 2009
Combined Cons. Ratio 114,8% 2010
Combined Cons. Ratio 108,9% 2009
Under the chairmanship of Emanuele Erbetta, the Milano Assicurazioni S.p.A. Board of Directors met today and reviewed and approved the 2010 consolidated and parent company financial statements.
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