Results Center
The UnipolSai Group ended the first quarter of 2024 with a consolidated net profit of €235m compared to €231m for the corresponding period of the previous year.
Direct insurance income, including reinsurance ceded, stood at €4,200m in the first three months of 2024, up 8.7% on the figure of €3,865m recorded at 31 March 2023, and 9.8% on a comparable basis.
Direct income from the non-life business at 31 March 2024 amounted to €2,280m, recording a significant increase (+8.7%1) compared to the same period in 2023. All the Group sales channels and main business divisions contributed towards this growth.
More specifically, UniSalute continues to make impressive progress (+23.1%) and is now a leader in its target market, thanks in part to consolidation of the UniSalute 2.0 project whereby the Group agency and bancassurance distribution networks offer UniSalute health products directly to their customers.
There was a positive performance recorded by the MV business with growth of 11.2% and premiums of €1,062m, while the Non-MV business collected €1,218m in premiums, with growth of 6.6% compared to the first quarter of 2023.
The Group combined ratio stood at 91.1% compared to 94.4% in the first quarter of 2023 and 94.8% restated on a comparable basis.
The Group registered an 11.1% increase in direct income in the life business, which stood at €1,920m. Against a backdrop of unchanging interest rates, production continued to concentrate on traditional products with a view towards optimising the net flows of segregated accounts.
Consolidated Results at 31 march 2024
