Fondiaria-Sai S.p.A.: parent company and consolidated financial statements for 2008 approved
Tuesday, March 24, 2009
- Company decides not to avail of legs. decree 185/08
- Parent company net profit of euro 69.6 million, after write-downs on financial instruments of euro 446 million
- Proposal of a dividend of euro 0.70 per ordinary share and of euro 0.752 per savings share.
- Consolidated impairment losses booked on financial instruments of euro 235 million
- The consolidated result amounted to euro 90.8 million, inclusive of exceptional intervention on behalf of policyholders with underlying lehman securities, with a consolidated P&L impact of euro 150 million; recovery rate of 20%.
- Parent company solvency margin approx. 2.6 times minimum requirement, while consolidated at 1.3 minimum required, post dividend
- No “toxics” assets in the investments’ portfolio
Under the chairmanship of Jonella Ligresti, the Fondiaria-SAI S.p.A. Board of Directors met today and reviewed and approved the financial statements for 2008.
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