Group 2010-2012 Business Plan and Interim Management Report as at 31 March 2010 approved
Main objectives of the 2012 business plan:
- Non-life direct income €4.6bn
- Life direct income €3.1bn
- Non-life combined ratio 97.5%
- Life new business margin 25%
- Net profit for the banking group €50m
- Solvency ratio 1.4 x
- Consolidated net profit €250m
The business plan is based on profitability,
The group's traditional markets,
Operating efficiency,
Capital strength and sustainability.
- Comprehensive profit of €62m in the first quarter of 2010
- Consolidated net profit of €1m
Meeting yesterday in Bologna the new Board of Directors of Unipol Gruppo Finanziario S.p.A. approved the 2010-2012 Business Plan and the Interim Management Report as at 31 March 2010.
The new Chief Executive Officer, Carlo Cimbri, commented: «Our Group's Business Plan will indicate significant strategic repositioning and will be geared not to volumes but to profitability. In both insurance and banking the Group will focus on retail business and small and medium enterprises. Priority will be given to traditional markets, in other words those with their origins in our longstanding relationship with trade unions, the self-employed organisations, cooperatives and welfare services, in which the Group has considerable expertise and experience. Quality of service will be the objective pursued by employees and agents in order to provide a suitable level of customer satisfaction and uphold Unipol Gruppo Finanziario's reputation for respectability and reliability.»
Please read pdf document.