Unipol closed the primary 9 months of the yr with a revenue of 724 million euros, down 5.9% in comparison with the identical interval of 2023, which was affected by the allocation of a solidarity fund of 103 million internet of taxes for the early retirement of roughly 500 workers. Profit as a substitute rose by 8.5% to 834 million additionally contemplating the contribution of Bper and Banca Popolare di Sondrio primarily based on their outcomes as of 30 September. Premiums elevated by 9.1% to 11.4 billion, with life rising by 9.6% to 4.9 billion and non-life by 8.7% to six.5 billion. The board of administrators additionally appointed Laterza as new CEO till the approval of the 2024 price range.
The numbers
The quantity of the fund, which earlier than taxes quantities to 149 million and which is able to take impact within the subsequent few years, could also be revised on the finish of 2024 primarily based on precise worker participation. In the 9 months, Unipol’s capital solidity improved: the solvency index rose to 224%, from 215% on the finish of 2023, whereas the insurance coverage solvency index grew from 275% to 286%. The “positive performance” of all of the ecosystems by which Unipol operates contributed to the rise in non-life premiums, whose pre-tax revenue rose from 514 to 543 million, with Unipolsai recording a development of 6.2 % to five,118 million and UniSalute which noticed premiums enhance by 27.5% to 716 million. The bancassurance channel by which Arca Assicurazioni operates made important progress (+15.5% to 230 million). The mixed ratio, an indicator of the profitability of technical administration, stood at 93.9%, with an enchancment unfold throughout a number of courses, in comparison with 98.6% within the first 9 months of 2023, which had additionally been affected by a larger incidence of claims from pure disasters. In the Life sector, UnipolSai achieved collections of two,548 million (-2.7%) whereas within the bancassurance channel Arca Vita rose by 27.5% to 2,350 million. The pre-tax consequence is the same as 225 million in comparison with 221 million in 2023. As regards the 2 banking associates, Bper and Popolare di Sondrio, the contribution of the primary 9 months is the same as 196 million euros, which rises to 306 million contemplating the outcomes as of September thirtieth of the 2 institutes. As regards the holding sector and different actions, the constructive contribution of Gruppo Una continues, recording development in revenues and a gross revenue of round 24 million, whereas the general result’s unfavorable for 20 million, additionally because of the prices linked to merger operation with UnipolSai.
I goal
Unipol confirms the aims of the strategic plan to 2024. «The efficiency recorded within the first 9 months and the knowledge at the moment obtainable permit the group to substantiate, within the absence of at the moment unforeseeable occasions linked to a potential worsening of the financial context with explicit reference to the monetary markets or excessive climatic occasions, an earnings development of the consolidated administration for the present yr in step with the aims set within the 2022-2024 Strategic Plan”, we read in the note on the results of the first nine months
Laterza new ad
Matteo Laterza has been appointed by the Unipol board of directors as the new CEO of the Bologna-based holding company, which is close to merging with the insurance subsidiary UnipolSai. The decision was taken yesterday by the board and Laterza – underlines a note – will hold the position for the remaining duration of the mandate and, therefore, until the meeting to approve the 2024 budget. Until yesterday Laterza was general director of the Unipol group and of UnipolSai.
In any case, everything suggests that, even with the renewal of the board of directors, there will be continuity. In mid-September, the president of Unipol Carlo Cimbri, declaring himself available for a new mandate (“I would not see myself in different corporations”), had also specified how “it could have been logical for Laterza”, already CEO of UnipolSai, to also be CEO of the company post-aggregation” with Unipol, whereas recalling that on this context “the shareholders decide”.
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