Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Sign up Log in

Unipol Interim / Quarterly Report 2022

Aug 5, 2022

4405_10-q_2022-08-05_b13a402b-d43b-4db7-9921-2e4f883ee26f.pdf

Interim / Quarterly Report

Open in viewer

Opens in your device viewer

Informazione
Regolamentata n.
0265-79-2022		 Data/Ora Ricezione
05 Agosto 2022
06:59:12		 Euronext Milan
Societa' : UNIPOL
Identificativo
Informazione
Regolamentata		 : 165889
Nome utilizzatore : UNIPOLN04 - Nerdi
Tipologia : 1.2
Data/Ora Ricezione : 05 Agosto 2022 06:59:12
Data/Ora Inizio
Diffusione presunta		 : 05 Agosto 2022 06:59:14
Oggetto : Press Release Unipol Gruppo:
approved		 consolidated results for the first half of 2022
Testo del comunicato

Vedi allegato.

  • Consolidated net profit up to €684m compared to €652m at 30 June 2021
  • Direct insurance income increased to €6.6bn (+1.2%)
    • Non-life business: €4.2bn (+5.8%) of which €2.0bn MV and €2.2bn Non-MV

Positive performance in all the lines of business of the ecosystems:

  • o Mobility: €2.2bn (+1.9%)
  • o Welfare: €825m (+13.6%)
  • o Property: €1.2bn (+8.3%)
  • Life business: €2.5bn (-5.7%)
  • Combined Ratio net reinsurance of 94.1%
  • Consolidated solvency ratio of 201%1
  • UnipolReC: sale of the loan portfolio successfully concluded

1 The figure should be taken as provisional as the supervisory authorities will be notified of the definitive result in accordance with legally required deadlines.

Bologna, 5 August 2022

The board of directors of Unipol Gruppo S.p.A., which met yesterday under the chairmanship of Carlo Cimbri, approved the consolidated results as at 30 June 2022.

The Unipol Group ended the first half of 2022 with a consolidated net profit of €684m, up on the figure of €652m for the corresponding period of the previous year. There was a positive effect of €318m (€138m in the first half of 2021) on the net result for the first six months of 2022 resulting from the consolidation of BPER Banca using the equity method, with the BPER Banca result influenced in turn by the effects of accounting for the badwill arising from the acquisition of Carige (equal to €236m). Excluding the extraordinary effects resulting from consolidation of the BPER results, the normalised consolidated net result amounts to €405m (compared to a normalised result for the first half of 2021 of €386m2 ).

Direct insurance income, including reinsurance ceded, stood at €6,632m in the first half of 2022, up (+1.2%) on the figure of €6,552m recorded at 30 June 2021.

2 The normalised result for the first half of 2022 excluded certain non-recurring effects resulting from the consolidation of BPER using the equity method, comprising the positive economic component connected to the increase from 18.9% to 19.9% of the total stake held by Unipol in BPER and the badwill recognised by BPER following the acquisition of 80% of the Banca Carige capital. The result for the first half of 2021 excluded the effects of the agreement relating to settlement of the actions for liability taken against former directors and statutory auditors of Fondiaria-Sai and Milano Assicurazioni, those relating to the tax realignment of goodwill and property, and the badwill recognised by BPER in view of the acquisition of former UBI Banca and Banca Intesa Sanpaolo branches.

Direct income from the non-life business at 30 June 2022 amounted to €4,152m, a significant increase (+5.8%) over the figure of €3,923m as at 30 June 2021, with a positive performance in all the ecosystems in which the Group operates. Along with the other main Group companies, the insurance company UnipolSai contributed to this result, with non-life premiums of €3,390m (+2.5%). UniSalute collected premiums of €301m (+10.5%), Arca Assicurazioni reported premiums of €125m (+46.8%) while Linear reported total premiums of €99m (+5.4%).

The MV business was up by 1.1% over the previous period, recording premiums of €1,967m. Even though there was a progressive recovery in the frequency of claims in the Motor TPL division, in a strongly competitive environment, average premium values do not yet reflect the current scenario of a strong resumption of movement after the limitations imposed by the pandemic. On the other hand, the accessory insurance cover included in the vehicle comprehensive and collision division continues to expand.

The performance recorded in the non-MV business was highly positive, with premiums of €2,184m, and a 10.5% increase over the first half of 2021, with all the main divisions of the business and all sales channels of the Group having contributed to that result.

The bancassurance business in which Arca Assicurazioni (€125m; +46.8%) and Incontra (€93m; +85.7%) operate is showing strong growth. This model added value to Unipol's distinctive know how through the branches of the various banking partners where Group products are sold.

The combined ratio, net of reinsurance, as at 30 June 2022 amounted to 94.1% (91.1% direct business) compared to a figure of 92.6% recorded at 30 June 2021 (91.4% direct business). The loss ratio, net of reinsurance, stood at 65.6% (compared to 65.0% for the first half of 2021), while the expense ratio, net of reinsurance, stood at 28.4% (compared to 27.5% at 30 June 2021). Claims were affected, inter alia, by the recovery in the frequency of claims made in the Motor TPL division, which were still benefitting from the restrictions imposed on the movement of people in the first half of 2021. The performance in the other divisions is positive along with maintenance of the reserving of claims for previous financial periods indicated by significant savings on claims paid.

UnipolRental, the Group long-term rental company, ended the half-year period with a further significant increase in the contracts acquired (approximately 70,000 compared to approximately 60,000 at the end of 2021) thanks in part to the excellent sales results achieved by the UnipolSai agencies. The total number of vehicles registered in the first half of 2022 amounted to 11,857 compared to 7,241 for the same period of the previous year. Revenue amounted to €171.2m and the net profit amounted to €13.6m.

The pre-tax result for the non-life business amounted to €627m compared to €618m recorded in the first six months of 2021. Net of the non-recurring effects, the result amounted to €516m compared to €517m for the first half of 20212 .

The Mobility Ecosystem reported income of €2,155m (+1.9%) and grew its position along the entire mobility life-cycle through UnipolRental and UnipolMove, the new electronic toll collection system which already placed approximately 300,000 devices in the first 5 months of distribution; the Welfare Ecosystem reported income of €825m (+13.6%), with a significant increase in the health area (income €472m, +20.5%), with UniSalute in constant growth (€301m, +10.5%); finally, with income of €1,171m, the Property Ecosystem recorded 8.3% growth.

The Unipol Group reported direct income of €2,480m in the life business, down 5.7% compared to the figure of €2,629m recorded in the first six months of 2021. The income mix was mainly directed towards hybrid and unit-linked products, in line with a strategy aimed at reducing capital absorption and the minimum guaranteed rate, with about 45% of the reserves already eliminated as at 30 June 2022.

In this context, UnipolSai reported €1,261m in direct income (-10.6% compared to the first half of 2021 which had benefitted from certain one-off collective/corporate contracts), while in the bancassurance channel, Arca Vita, along with its subsidiary Arca Vita International, reported direct income of €1,190m (+2.1% compared to €1,165m in the first half of 2021).

The pre-tax result for the life business amounted to €145m compared to €111m in the first six months of 2021 (normalised figure of €104m). The growth was linked to an improvement in both the technical and financial margin increases benefitting from the framework of increasing current and prospective interest rates.

Real Estate Business

Acquisitions were made during the half-year period of over €200m, favouring prestigious locations in Rome and the logistics sector. Work continued on the construction of the new multi-storey building to be used as offices in Piazza Gae Aulenti in Milan, along with the restructuring and development of the property assets. The tower was designed and built with a view towards obtaining the highest level of energy and water savings, along with the ecological quality of the interiors (Leed Platinum certification).

There was a pre-tax loss of €18m in the business compared to a loss of €11m at 30 June 2021 (with a normalised loss of €22m).

Holdings and Other Businesses

With regard to the other businesses that the Group operates in, there has been a significant recovery in the hotel sector in particular for the summer season. For the most part, the other Group businesses broke even.

There was a pre-tax profit of €114m in the holdings and other businesses compared to €25m at 30 June 2021. The corresponding normalised results amount to a loss of €54m for the first half of 2022 and a loss of €57m for the first half of 2021.

Financial Management

With regard to financial investment management, diversification continued in asset allocation through the first half of 2022 in order to further reduce investments in Italian govies to the benefit of other core and real asset European area govies with the aim of optimising the risk-return profile of the portfolio and to reduce the volatility of the solvency ratio.

The gross return on the portfolio amounted to 3.2% of invested assets.

Balance Sheet

Consolidated equity as at 30 June 2022 amounted to €8,218m (€9,722m as at 31 December 2021), of which €6,595m attributable to the Group (€7,780m as at 31 December 2021). The change in the period reflects both the dividend distribution and the reduction in the market values of the stock and bonds in portfolio. The Group solvency ratio as at 30 June 2022 amounted to 201%1 .

****

Significant events after the closure of the period

UnipolReC sale of loan portfolio successfully concluded

The board of directors of the subsidiary UnipolReC decided to accept the offer made by AMCO for the sale of the entire non-recourse loan portfolio of the company at a price of €307m.

The loan portfolio had a total nominal gross value of approximately €2.6bn as at 31 March 2022, the date the sale took effect. The transaction is expected to be finalised by the end of the current financial period, subject to authorisation by the Bank of Italy.

The sale reflects the non-strategic nature of managing non-performing loans for the Group which on the other hand intends to concentrate resources and investments in the core insurance business and evolve towards the mobility, property and welfare ecosystems as confirmed in the new Opening New Ways Strategic Plan presented last May.

This transaction will allow for the successful conclusion of the path undertaken by UnipolReC since its establishment in 2018 which aimed to manage, while creating value, the non-performing loans of Unipol Banca and the subsequently acquired BPER portfolio within the scope of restructuring the banking business.

Due to the choice to manage the loans internally and create a specialised organisational model that added value to the professional skills already present within the Group, upon sale of the loan portfolio and resulting closure of the company, cash flows for a total amount of approximately €780m will be generated against disbursement for the purchase of the loans of approximately €650m, generating total takings of approximately €130m. Considering also the settlement during the first half-year period of certain residual items, it is estimated that there will be an overall negative

impact on the income statement for the 2022 financial period of approximately €21m after the related tax effects.

Business Outlook

On the basis of the information currently available, it can be confirmed, in the absence of any events that cannot be foreseeable as things stand, including a downturn in the operating environment, that consolidated income from operating activities for the current year is in line with the targets established in the 2022-2024 Strategic Plan.

****

Presentation of results to the financial community

A conference call will be held at 12:00 p.m. today during which financial analysts and institutional investors may submit questions to the managing director and senior management on the results as at 30 June 2022. The telephone numbers to dial to attend the event are: +39 02 8020911 (from Italy and all other countries), +1 718 7058796 (from the USA), +44 1212 818004 (from the UK). You can also follow the presentation through the digital channels described below:

  • Connection via Web Link: https://hditalia.choruscall.com/?calltype=2&info=company
  • Connection via App: Chorus Call HD, ID system CCHDVA

Please carefully read the Privacy Policy Statement before attending the event.

The multimedia file with the pre-recorded comment on the results can be found in the Investors section of the website www.unipol.it.

****

In order to allow more complete disclosure of the results at 30 June 2022, please find attached hereto the Consolidated Balance Sheet, the Consolidated Income Statement, the summary of the Consolidated Income Statement by Business Segment and the Balance Sheet by Business Segment.

****

Luca Zaccherini, Manager in charge of financial reporting of Unipol S.p.A. and UnipolSai Assicurazioni S.p.A., declares, pursuant to Article 154-bis, paragraph 2, of the "Consolidated Law on Finance", that the accounting information contained in this press release corresponds to the figures in the corporate accounting records, ledgers and documents.

Glossary

DIRECT BUSINESS COMBINED RATIO: indicator that measures the balance of non-life direct technical management, given by the sum of the loss ratio, including the OTI ratio and expense ratio.

COMBINED RATIO NET OF REINSURANCE: indicator that measures the balance of non-life total technical management, given by the sum of the loss ratio net of reinsurance and the expense ratio net of reinsurance.

Unipol Gruppo

Unipol is one of the biggest insurance groups in Europe and the leading company in Italy in the non-life insurance sector, (especially in the MV and health businesses), with total premiums of €13.3bn, of which €7.9bn in non-life and €5.4bn in life (2021 figures). Unipol adopts an integrated offer strategy and covers the entire range of insurance and financial products, operating primarily through the subsidiary UnipolSai Assicurazioni. The Group is also active in direct MV insurance (Linear Assicurazioni), transport and aviation insurance (Siat), health insurance (UniSalute), supplementary pensions and it also covers the bancassurance channel (Arca Vita, Arca Assicurazioni and Incontra). It also manages significant diversified assets in the debt collection (UnipolReC), real estate, hotel (Gruppo UNA), medicalhealthcare and agricultural (Tenute del Cerro) sectors. Unipol Gruppo S.p.A. is listed on the Italian Stock Exchange.

Consolidated Statement of Financial Position – Assets

Accounting records, amounts in €m

30/6/2022 31/12/2021
1 INTANGIBLE ASSETS 2,151.4 2,080.8
1.1 Goodwill 1,684.4 1,630.8
1.2 Other intangible assets 467.0 450.0
2 PROPERTY, PLANT AND EQUIPMENT 2,672.9 2,514.7
2.1 Property 1,569.5 1,584.0
2.2 Other items of property, plant and equipment 1,103.4 930.7
3 TECHNICAL PROVISIONS - REINSURERS' SHARE 905.7 831.3
4 INVESTMENTS 62,432.3 68,169.0
4.1 Investment property 2,263.1 2,072.5
4.2 Investments in subsidiaries and associates and interests in joint ventures 1,590.1 1,304.4
4.3 Held-to-maturity investments 365.9 366.7
4.4 Loans and receivables 4,702.6 4,754.0
4.4 bis Financial assets at amortised cost 331.0 357.2
4.5 Available-for-sale financial assets 43,972.7 50,194.4
4.5 bis Financial assets at fair value through OCI 563.3 494.6
4.6 Financial assets at fair value through profit or loss 8,643.5 8,625.2
4.6.1 Held-for-trading financial assets 352.2 229.5
4.6.2 Financial assets at fair value 8,150.8 8,344.5
4.6.3 Other financial assets mandatorily at fair value 140.6 51.2
5 SUNDRY RECEIVABLES 2,837.0 3,432.9
5.1 Receivables relating to direct insurance business 1,085.5 1,398.0
5.2 Receivables relating to reinsurance business 180.6 204.5
5.3 Other receivables 1,570.9 1,830.4
6 OTHER ASSETS 2,125.0 1,290.8
6.1 Non-current assets held for sale or disposal groups 105.9 132.6
6.2 Deferred acquisition costs 106.4 100.1
6.3 Deferred tax assets 941.8 427.0
6.4 Current tax assets 22.3 9.6
6.5 Other assets 948.6 621.4
7 CASH AND CASH EQUIVALENTS 1,589.4 1,938.9
TOTAL ASSETS 74,713.6 80,258.5

Consolidated Statement of Financial Position - Shareholders' Equity and Liabilities

Accounting records, amounts in €m

30/6/2022 31/12/2021
1 EQUITY 8,218.1 9,721.5
1.1 attributable to the owners of the Parent 6,594.6 7,780.0
1.1.1 Share capital 3,365.3 3,365.3
1.1.2 Other equity instruments 0.0 0.0
1.1.3 Equity-related reserves 1,639.4 1,639.4
1.1.4 Income-related and other reserves 1,465.4 1,054.9
1.1.5 (Treasury shares) -5.5 -1.1
1.1.6 Translation reserve 3.8 3.3
1.1.7 Gains or losses on available-for-sale financial assets -342.4 1,138.6
1.1.7bis Gains or losses on financial assets at fair value through OCI -12.7 20.0
1.1.8 Other gains or losses recognised directly in equity -93.6 -67.0
1.1.9 Profit (loss) for the year attributable to the owners of the Parent 574.9 626.6
1.2 attributable to non-controlling interests 1,623.6 1,941.5
1.2.1 Share capital and reserves attributable to non-controlling interests 1,584.4 1,554.3
1.2.2 Gains or losses recognised directly in equity -69.4 217.7
1.2.3 Profit (loss) for the year attributable to non-controlling interests 108.6 169.6
2 PROVISIONS 418.5 446.9
3 TECHNICAL PROVISIONS 53,295.2 57,128.3
4 FINANCIAL LIABILITIES 10,442.8 10,770.8
4.1 Financial liabilities at fair value through profit or loss 6,041.9 6,356.9
4.1.1 Financial liabilities held-for trading 157.3 445.9
4.1.2 Financial liabilities at fair value 5,884.6 5,911.0
4.2 Other financial liabilities 4,400.9 4,413.9
5 PAYABLES 1,310.1 1,095.5
5.1 Payables arising from direct insurance business 133.9 187.6
5.2 Payables arising from reinsurance business 156.3 104.5
5.3 Other payables 1,019.9 803.5
6 OTHER LIABILITIES 1,029.0 1,095.4
6.1 Liabilities associated with disposal groups held for sale 0.0 3.1
6.2 Deferred tax liabilities 31.9 115.3
6.3 Current tax liabilities 18.7 40.3
6.4 Other liabilities 978.3 936.6
TOTAL EQUITY AND LIABILITIES 74,713.6 80,258.5

Consolidated Income Statement

Accounting records, amounts in €m

30/6/2022 30/6/2021
1.1 Net premiums 5,656.2 5,850.8
1.1.1 Gross premiums 5,931.7 6,077.6
1.1.2 Ceded premiums -275.5 -226.8
1.2 Fee and commission income 24.8 22.3
1.3 Gains and losses on financial instruments at fair value through profit or loss -254.6 213.9
1.4 Gains on investments in subsidiaries and associates and interests in joint ventures 320.9 141.7
1.5 Gains on other financial instruments and investment property 1,331.7 1,021.7
1.5.1 Interest income 756.7 692.2
1.5.2 Other gains 157.7 101.1
1.5.3 Realised gains 415.7 207.4
1.5.4 Unrealised gains 1.5 21.0
1.6 Other revenue 571.8 459.7
1 TOTAL REVENUE AND INCOME 7,650.7 7,710.1
2.1 Net charges relating to claims -4,207.8 -4,724.6
2.1.1 Amounts paid and changes in technical provisions -4,283.0 -4,806.5
2.1.2 Reinsurers' share 75.2 82.0
2.2 Fee and commission expense -44.7 -13.7
2.3 Losses on investments in subsidiaries and associates and interests in joint ventures -0.3 -0.4
2.4 Losses on other financial instruments and investment property -594.7 -393.2
2.4.1 Interest expense -76.0 -82.7
2.4.2 Other charges -20.5 -18.3
2.4.3 Realised losses -218.3 -70.9
2.4.4 Unrealised losses -279.9 -221.2
2.5 Operating expenses -1,378.8 -1,304.4
2.5.1 Commissions and other acquisition costs -951.5 -907.9
2.5.2 Investment management expenses -67.7 -59.3
2.5.3 Other administrative expenses -359.6 -337.1
2.6 Other costs -556.4 -530.9
2 TOTAL COSTS AND EXPENSES -6,782.8 -6,967.1
PRE-TAX PROFIT (LOSS) FOR THE YEAR 868.0 743.0
3 Income tax -184.4 -91.0
POST-TAX PROFIT (LOSS) FOR THE YEAR 683.6 652.1
4 PROFIT (LOSS) FROM DISCONTINUED OPERATIONS 0.0 0.0
CONSOLIDATED PROFIT (LOSS) FOR THE YEAR 683.6 652.1
attributable to the owners of the Parent 574.9 536.7
attributable to non-controlling interests 108.6 115.4

Condensed Consolidated Income Statement by Business Segment

Accounting records, amounts in €m

NON
-LIF
E
BUS
INE
SS		 LIFE
BUS
INE
SS		 INS
URA
NCE
BUS
INE
SS		 HOL
DIN
GS/
SER
VIC
ES/
OT
HER
BUS
INE
SSE
S		 REA
L ES
TAT
E
BUS
INE
SS
(*)		 Inte
nt
rse
gme
Elim
inat
ion		 CON
SOL
IDA
TED
TOT
AL
Jun
-202
2		 Jun
_20
21		 %
var.		 Jun
-202
2 J		 202
1
un_		 %
var.		 Jun
-202
2 J		 202
1
un_		 %
var.		 Jun
-202
2 J		 202
1
un_		 %
var.		 Jun
-202
2 J		 202
1
un_		 %
var.		 Jun
-202
2 J		 202
1
un_		 Jun
-202
2 J		 202
1
un_		 %
var.
Net
ium
prem
s		 3,89
1		 3,84
9		 1.1 1,76
6		 2,00
2		 -11.
8		 5,65
6		 5,85
1		 -3.3 0 0 0 0 0 0 5,65
6		 5,85
1		 -3.3
Net
fees
and
miss
ions
com		 -26 0 n.s. 6 10 -34.
9		 -19 9 n.s. 7 7 -0.2 0 0 -7 -7 -20 9 n.s.
Fina
ncia
l inc
/exp
e (e
xcl.
Ass
ets/
lia
biliti
t fai
ome
ens
es a
r
valu
e) (
)		 406 352 15.3 546 534 2.2 951 886 7.4 136 66 105
.5		 3 -4 n.s. -9 -8 1,08
2		 940 15.2
Net
inte
rest		 172 141 532 501 703 642 -20 -29 -1 -1 0 0 683 612
Oth
er in
d ex
com
e an
pen
ses		 186 98 30 22 216 120 195 73 28 25 -9 -8 431 210
Rea
lise
d ga
ins
and
los
ses		 11 99 -9 -15 1 84 -6 26 -1 0 0 0 -6 110
Unr
eali
sed
gai
nd l
ns a
oss
es		 38 14 -7 25 31 39 -33 -3 -22 -28 0 0 -25 8
Net
cha
rela
ting
laim
to c
rges
s		 -2,4
91		 -2,4
10		 3.3 -1,9
96		 -2,2
70		 -12.
1		 -4,4
87		 -4,6
81		 -4.1 0 0 0 0 0 0 -4,4
87		 -4,6
81		 -4.1
Ope
ratin
g ex
pen
ses		 -1,1
31		 -1,0
83		 4.4 -134 -128 4.0 -1,2
65		 -1,2
12		 4.4 -106 -87 22.2 -19 -17 16.1 12 11 -1,3
79		 -1,3
04		 5.7
Com
mis
sion
d ot
her
uisi
tion
ts
s an
acq
cos		 -89
1		 -848 5.1 -60 -60 0.8 -952 -908 4.8 0 0 0 0 0 0 -952 -908 4.8
Oth
er e
xpe
nse
s		 -240 -235 2.1 -73 -69 6.8 -313 -304 3.2 -106 -87 22.2 -19 -17 16.1 11 11 -427 -396 7.8
Oth
er in
e / e
com
xpe
nse		 -21 -89 75.8 -43 -35 -20.
5		 -64 -124 48.4 77 39 100
.3		 -2 10 n.s. 4 5 15 -71 n.s.
Pre
fit (
loss
)
-tax
pro		 627 618 1.5 145 111 30.
1		 772 729 5.9 114 25 n.s. -18 -11 -65.
7		 0 0 868 743 16.8
Inco
tax
me		 -136 -79 72.1 -65 -20 n.s. -201 -99 103
.5		 16 8 92.7 1 0 n.s. 0 0 -184 -91 102
.7
Prof
it (lo
ss)
on d
isco
ntin
ued
ratio
ope
ns
Con
soli
date
d p
rofi
t (lo
ss)
for
the
riod
pe		 491 539 -8.9 80 92 -12.
8		 571 630 -9.4 130 33 n.s. -17 -11 -53.
1		 0 0 684 652 4.8
Pro
fit (l
oss)
ibut
able
he o
f the
Pa
attr
to t
rent
wne
rs o		 575 537
Pro
fit (l
oss)
ibut
able
ollin
g in
attr
to n
ontr
tere
sts
on-c		 109 115

(*) Real Estate business only includes real estate companies controlled by the Group

(**) Excluding assets/liabilities at fair value related to contracts issued by insurance companies with investment risk borne by customers and arising from pension fund management

Unipol Gruppo - Consolidated Statement of financial position by business segment

Accounting records, amounts in €m

Non
-Life
Bu
sine
ss		 Life
Bu
sine
ss		 Hold
ings
/Oth
er B
usin
ess
es		 Rea
l Es
tate		 Bu
sine
ss (
*)		 Inte
rseg		 t Eli
min
atio
men
n		 Tota
l
30/6
/202
2		 31/1
2/20
21		 30/6
/202
2		 31/1
2/20
21		 30/6
/202
2
31/1
2/20
21
30/6		 /202
2
31/1
2/20
21		 30/6
/202
2		 31/1
2/20
21		 30/6
/202
2		 31/1
2/20
21
1 INTA
NGI
BLE
AS
SET
S		 5.9
1,75		 1,68
1.3		 376
.9		 381
.6		 18.5 17.9 0.0 0.0 0.0 0.0 2,15
1.4		 2,08
0.8
2 TAN
GIB
LE A
SSE
TS		 1,78
7.9		 1,62
2.4		 72.8 73.8 226
.3		 217
.8		 585
.8		 600
.7		 0.0 0.0 2,67
2.9		 2,51
4.7
3 TEC
HNI
CAL
PR
OVI
SIO
NS
- RE
INS
URE
RS'
SHA
RE		 875
.6		 808
.1		 30.2 23.2 0.0 0.0 0.0 0.0 0.0 0.0 905
.7		 831
.3
4 INV
EST
MEN
TS		 14,6
73.3		 15,6
63.1		 44,1
14.0		 49,6
46.1		 2,23
4.1		 1,91
9.4		 1,89
1.0		 1,72
5.0		 -480
.1		 -784
.6		 62,4
32.3		 68,1
69.0
4.1 Inve
stme
nt p
rty
rope		 425
.1		 424
.0		 4.1 4.1 20.2 25.1 1,81
3.7		 1,61
9.3		 0.0 0.0 2,26
3.1		 2,07
2.5
4.2 Inve
stme
nts i
bsid
iarie
soci
ates
and
join
t ve
ntur
n su
s, as
es		 742
.0		 641
.5		 2.8 2.9 844
.4		 659
.1		 0.9 0.9 0.0 0.0 1,59
0.1		 1,30
4.4
4.3 Held
ity in
-to-m
atur
vest
ts
men		 46.9 47.5 319
.0		 319
.2		 0.0 0.0 0.0 0.0 0.0 0.0 365
.9		 366
.7
4.4 Loa
nd r
ivab
les
ns a
ece		 2,21
6.1		 2,44
9.6		 2,62
0.7		 2,73
5.8		 305
.5		 302
.3		 40.4 50.9 -480
.1		 -784
.6		 4,70
2.6		 4,75
4.0
4.4b
is		 Fina
ncia
l ass
ortis
ed c
ets a
t am
ost		 0.0 0.0 0.0 0.0 331
.0		 357
.2		 0.0 0.0 0.0 0.0 331
.0		 357
.2
4.5 Ava
ilabl
e-fo
le fin
ial a
sset
r-sa
anc
s		 10,9
38.1		 11,9
40.3		 32,9
70.1		 38,1
70.8		 28.6 29.4 35.9 53.8 0.0 0.0 43,9
72.7		 50,1
94.4
4.5b
is		 Fina
ncia
l ass
ets a
t fai
lue t
hrou
gh O
CI
r va		 0.0 0.0 0.0 0.0 563
.3		 494
.6		 0.0 0.0 0.0 0.0 563
.3		 494
.6
4.6 Fina
ncia
l ass
t fai
lue t
hrou
gh p
rofit
or lo
ets a
r va
ss		 305
.1		 160
.2		 8,19
7.4		 8,41
3.3		 141
.0		 51.8 0.0 0.0 0.0 0.0 8,64
3.5		 8,62
5.2
5 SUN
DRY
RE
CEI
VAB
LES		 2,02
5.1		 2,54
5.5		 785
.3		 835
.8		 226
.6		 268
.9		 39.9 31.4 -239
.8		 -248
.8		 2,83
7.0		 3,43
2.9
6 OTH
ER A
SSE
TS		 1,27
6.8		 799
.5		 272
.6		 95.0 421
.4		 347
.5		 162
.0		 177
.4		 -7.9 -128
.7		 2,12
5.0		 1,29
0.8
6.1 Defe
rred
uisit
ion c
osts
acq		 42.5 37.1 63.9 63.1 0.0 0.0 0.0 0.0 0.0 0.0 106
.4		 100
.1
6.2 Othe
sets
r as		 1,23
4.3		 762
.5		 208
.7		 32.0 421
.4		 347
.5		 162
.0		 177
.4		 -7.9 -128
.7		 2,01
8.5		 1,19
0.7
7 CAS
H A
ND
CAS
H E
QUI
VAL
ENT
S		 280
.0		 240
.3		 453
.5		 567
.9		 812
.6		 1,10
8.4		 43.3 22.3 0.0 0.0 1,58
9.4		 1,93
8.9
TOT
AL A
SSE
TS		 22,6
74.5		 23,3
60.2		 46,1
05.5		 51,6
23.6		 3,93
9.5		 3,88
0.0		 2,72
2.0		 2,55
6.9		 -727
.9		 -1,1
62.1		 74,7
13.6		 80,2
58.5
1 EQU
ITY		 8,21
8.1		 9,72
1.5
2 PRO
VIS
ION
S		 377
.5		 396
.4		 6.1 6.9 28.0 38.5 6.9 5.1 0.0 0.0 418
.5		 446
.9
3 TEC
CAL
OVI
SIO
NS
HNI
PR		 14,8
46.3		 14,7
14.9		 38,4
48.9		 42,4
13.4		 0.0 0.0 0.0 0.0 0.0 0.0 53,2
95.2		 57,1
28.3
4 FINA
NCI
AL
LIAB
ILIT
IES		 1,35
2.8		 1,42
8.9		 6,65
5.7		 6,94
3.2		 2,67
9.3		 2,98
1.4		 234
.9		 201
.7		 -479
.9		 -784
.4		 10,4
42.8		 10,7
70.8
4.1 Fina
ncia
l liab
ilitie
s at
fair
valu
e th
h pr
ofit o
r los
roug
s		 38.3 80.3 6,00
3.1		 6,27
6.1		 0.6 0.4 0.0 0.0 0.0 0.0 6,04
1.9		 6,35
6.9
4.2 Othe
r fin
anci
al lia
biliti
es		 1,31
4.6		 1,34
8.6		 652
.6		 667
.1		 2,67
8.7		 2,98
1.0		 234
.9		 201
.7		 -479
.9		 -784
.4		 4,40
0.9		 4,41
3.9
5 PAY
ABL
ES		 1,07
9.6		 922
.1		 123
.6		 171
.6		 268
.1		 176
.9		 71.0 68.5 -232
.3		 -243
.6		 1,31
0.1		 1,09
5.5
6 OTH
ER
LIAB
ILIT
IES		 807
.4		 822
.9		 183
.1		 341
.2		 43.2 51.8 11.0 13.7 -15.
7		 -134
.1		 1,02
9.0		 1,09
5.4
TOT
AL
EQU
ITY
AND
LIA
BILI
TIES		 74,7
13.6		 80,2
58.5

(*) Real Estate business only includes real estate companies controlled by the Group

More from Unipol

Regulatory Filings 2026
May 29
Regulatory Filings 2026
May 29
Report Publication Announcement 2026
May 27
Report Publication Announcement 2026
May 27
Declaration of Voting Results & Voting Rights Announcements 2026
May 27
AGM Information 2026
May 27
Investor Presentation 2026
May 15
Investor Presentation 2026
May 15
Earnings Release 2026
May 15
Earnings Release 2026
May 15
View all filings →