Consolidated Results for the first half of 2019 approved

Corporate: Financial
Friday, August 2, 2019 - 06:43

Profit and Premium Income grow
Improved Combined Ratio
Solid Financial Strenght confirmed

  • The consolidated net profit amounted to €377m, up 7.4% from the normalised result of €351m at 30 June 2018
  • Direct insurance income of €7.3bn (+18.5%)
    • Non-Life business: €4.1bn (+2.6%)
    • Life business: €3.2bn (+48.4%)
  • Net of reinsurance combined ratio 94.6%, an improvement on the figure of 95.1% recorded in the first half of 2018
  • Individual solvency ratio of 264%

Delivery of the first operations reflecting the guidelines set out in the 2019- 2021 Strategic Plan:

  • Agreement with all the trade unions on the Solidarity Fund and other forms of voluntary redundancy for approximately 750 employees. The agreement also calls for pro-active policies on employment, including hiring 300 new professionals
  • Purchase of the entire shareholding of Car Server (long-term car rental company) for €96m
Read the complete Press Release.