The group Unipol in 2017 it recorded a negative consolidated net result of 169 million euros (from +535 million in 2016). Excluding the effects associated with the restructuring of the banking sector (completed with the good bank operational since 1 February), the group would have achieved a normalized net profit of 655 million. For the statutory financial statements, a net profit of 213 million is estimated for 2017: for this reason, a dividend of 24 euros per share will be proposed to the shareholders' meeting on 0,18 April
Direct insurance premiums amounted to 12,3 billion (from 14,8 million in 2016), mainly due to the decline in Life (-36,8% to 4,4 billion) while Non-Life was stable at 7,9 billion (+0,7%). The consolidated Solvency Ratio based on economic capital is 169%. As regards Unipol Banca, which has a CET1 of 31,5%, "as part of the restructuring, Unipol ReC was created, a company specializing in the recovery of non-performing loans, to which almost all of Unipol Banca's non-performing loans were transferred" .
As far as the insurance company is concerned UnipolSai, the Board approved the preliminary consolidated accounts for 2017 which show a consolidated net result of 537 million (+1,8%), which net of the bank's restructuring charges would have been 649 million (+23%). Direct insurance premiums amounted to 11,1 billion (from 12,5 billion in 2016) with Non-Life up by 1,9% to 7,4 billion and Life down by almost 30% to 3,7 .241 billion. The individual solvency ratio is equal to 206% while the consolidated one based on economic capital is equal to XNUMX%.
On the basis of these numbers and on the estimate of a net profit for the year of 577 million, the Board of Directors proposes to the meeting the hypothesis of a unit dividend of 0,145 euro per share, up by 16% and for a dividend yield of 7,4%. Lastly, the BoD authorized the issue, under the Emtn program and by the end of the year, of a level 2 subordinated bond (Tier 2), pursuant to the Solvency 2 directive, for a maximum amount of 500 million.
