The UnipolSai group ended 2016 with a net profit of €527m, down from €738m in 2015, a result which however benefited in an extraordinary way from the financial management result. Direct insurance premiums are expected at 12,5 billion, down 10,6% and are divided between 7,2 billion in non-life (-1,6%) and 5,3 billion in life (-20,6% ).
In non-life the Combined Ratio equal to 96,5% compared to 94,6% in 2015. The individual Solvency II margin equal to 240%, while the Solvency II consolidated solvency margin based on economic capital was 209%. The hypothesis of a dividend of 0,125 euro per share, with a payout of approximately 77%, against 0,15 euro in 2015.
In the non-life business, UnipolSai's MV premiums fell by 2016% to €4 billion in 4,08, with an increase in the portfolio of 120 thousand policies compared to the end of 2015. European leadership in black boxes confirmed, which rose to €3,1 million from 2,5 million in 2015. The Non-Motor segment, on the other hand, recorded premiums of 3,1 billion, up by 1,8%.
From the point of view of technical profitability, the positive trend of the Non-Motor - specifies the company - made it possible to offset the effects of the continuous decline in the average motor liability premium. The loss ratio is 68% from 66,4% in 2015 and the expense ratio is 28,5% from 28,2%. The pre-tax result of the sector, including property write-downs of 81 million, was positive by 365 million compared to 813 million in 2015.
In life, UnipolSai spa's direct premiums fell by 11,4% to €3,4bn, while Popolare Vita's production fell by 30% to €2,1bn. The pre-tax result of the sector is positive for 357 million against 344 million in 2015. The real estate sector "reflects the important work of recovery and valorisation of assets, in particular in Milan", in a context of still difficult markets, bringing out a loss of €22m against -€96m in 2015. For UnipolSai, the result of the 'other activities' sector, which includes hotel, tourism, agricultural and healthcare assets, was a negative €19m (from -€18m). Financial management, which includes the write-down of 24% of the investment in Atlante 1 for 19,5 million, shows a return of 3,7%.
By mid-morning, the Unipol share dropped 1,84% to 1,865.
