Unipol ended the first half with a positive consolidated net result of €644m, including the capital gain deriving from the sale of the investment in Popolare Vita amounting to €309m (in the first half of 2017 the group had lost €390m as a result of the restructuring plan of the banking sector).
The pre-tax result of the insurance sector amounted to €852 million (+46,9%): the Non-Life sector contributed to this result for €329 million (-10,5% compared to €368 million in the first six months of 2017, “which benefited the improved contribution of financial management”, explains a note) and the Life sector for 523 million (+146,7%, taking into account the sale of Popolare Vita).
Direct insurance premiums, net of Popolare Vita, amounted to 6,2 billion, with Non-Life in line with 2017 at 4 billion and Life up by 16,4% to 2,1 billion, against a Non-Life technical performance improving with the direct business combined ratio at 93,0% compared to 95,3% in the first half of 2017.
Finally, as regards the consolidated Solvency Ratio, it stands at 160%, "down from 166% as at 31 December 2017, due in particular to the widening of the spread on Italian government bonds".
