2011 was a bad year for Unipol, which closed accounts in the red of 94 million. The loss is mainly related to write-downs on Unipol Banca and prompted the BoD to decide to not propose any dividend at the assembly. Despite these less than positive numbers, by mid-morning Unipol's share on the Stock Exchange gained 1,33%.
If there hadn't been bank write-downs to budget, the company would have closed the accounts with a profit of 226 million, improving last year's earnings, which had stopped at 71 million. As for last year's premium income, that of the non-life business amounted to 4.333 million (+2,1%), while that of the life business reached 2.476 million (+9,6%).
New business, on the other hand, amounted to approximately 50 million (from 42 million in 2010). The Unipol group has approved, together with the accounts, the 2012 budget in the stand-alone hypothesis. In non-life the objective is premium income of 4,4 billion (+2% on 2011), while in life the aim is for premium income of 2,3 billion (-6%).
Around 11 am in Piazza Affari the Unipol share earns 0,77 to 0,2753 euros per share.
