Cattolica Insurance closes the 2019 financial statements with a prize collection overall growth of +19,9%, to 7 billion. The company makes it known in a note, specifying that it is in business Danni direct there is an increase of 2,5%, while the increase in collection Life is equal to 30,0%, with a growing incidence of unit-linked (30,5% of the total) and traditional products with a low risk profile.
Il Operating income rises by 3,1%, to 302 million. L'Net income however, the group recorded a decrease of 29,7% on an annual basis, falling from 107 to 75 million, discounting the effect of various negative extraordinary items, such as the loss deriving from the sale of Cattolica Life (7 million) and write-downs on properties ( 10 million). L'adjusted profit in 2019 it was 103 million, down 13,2% year-on-year.
Il combined ratio went from 93,4% in 2018 to 94,3% in 2019 (+0,9 pp), despite the impact of the increase in claims connected to atmospheric events being 6,4% of net premiums, equal to a increase of 2,2 pp compared to last year.
On the property side, the Solvency II index of the group is equal to 175%, while the heritage consolidated net income rises to 2,351 billion.
For the coronavirus epidemic, "the health emergency we are experiencing in recent weeks is putting a strain on the economic and financial system of the entire country - he comments Paolo Bedoni, president of Cattolica Assicurazioni – but we have the strength and the competence to overcome it, as has already been the case in the long history of our company, with the help of each of us and of the national and European institutions. Cattolica is also called to make its contribution and, as always, will do everything to guarantee security and development for the territories and communities in which it operates".
In particular, Cattolica has undertaken a series of initiatives to help customers, agents and society in general, for an overall financial commitment equal to approximately 6 million euro. Resources divided between disbursements in favor of customers to deal with interruptions to their economic activities and interventions in favor of hospital structures, especially in the most affected provinces.
