UnipolSai Assicurazioni: consolidated results approved - 30 September 2023

Corporate: Financial
Friday, November 10, 2023 - 06:56

The Board of Directors of UnipolSai S.p.A., which met yesterday under the chairmanship of Carlo Cimbri, approved the consolidated results as at 30 September 2023.

The income statement and balance sheet figures relating to the first nine months of 2023 were drawn up in accordance with the new accounting standard IFRS 17 on insurance contracts which came into force on 1 January 2023 and accounting standard IFRS 9 on financial instruments which now also applies to insurance companies. The new accounting standards were also applied retroactively to the figures reported for 2022 to facilitate comparison on a like-for-like basis only.

The UnipolSai Group ended the first nine months of 2023 with a consolidated net profit of €586m compared to the consolidated net profit of €616m for the corresponding period of the previous year recorded using the accounting standards previously in effect. The figure from the first nine months of 2022 which was recalculated using the new accounting standards for comparison purposes would have been €262m.

  • Consolidated net profit of €586m (€616m at 30 September 2022, calculated with the accounting standards previously in effect)
  • Direct insurance income €10.6bn (+7.5% compared to 30 September 2022)
    • Non-life: €6.1bn (+3.8%)
    • Life: €4.5bn (+12.9%)

  • Income up in all Ecosystems:
    • Mobility: €3.1bn (+1.0%)
    • Welfare: €1.3bn (+9.2%)
    • Property: €1.7bn (+5.3%)

  • Combined ratio: 98.6%
  • Individual solvency ratio of 303%

Please read the full Press Release.