Back to profit in the first quarter of 2012 Milano Assicurazioni, controlled by Fonsai. Consolidated profits amounted to 17 million euro against a loss of 16,6 million in the first three months of 2011. The solvency margin also rose to 138% from 133,8% at the end of 2011.
Meanwhile Emanuele Erbetta, managing director of Fonsai, reassured the positive continuation of the work on the exchanges which could be concluded before the Premafin meeting, however avoiding commenting on the rumors about a possible meeting point on the exchanges around a 61-62% share of Bologna in the new maxi-pole. “Yes, we think we'll make it within the Premafin meeting” to define the exchanges of the integration between Unipol and Fonsai.
Returning to the results of Milano Assicurazioni, which is not excluded could end up among the possible disposals which the Antitrust could impose to give the go-ahead for the creation of the Unipol-Fonsai maxi pole, the positive industrial performance mainly concerned the claims-to-premiums ratio and the frequency of claims and is confirmed to be in line with the budget. The combined ratio improved to 98,9% against 114,1% at the end of 2011.
