Results Center
In 2022, the UnipolSai Group achieved results that were in line with the 2022-2024 Strategic Plan targets, with a consolidated net profit of €651m compared to €723m the previous year.
Direct insurance income, including reinsurance ceded, stood at €13,645m as at 31 December 2022, up (+2.4%) on the amount of €13,329m recorded at 31 December 2021.
Direct non-life income of €8,304m posted significant growth (+4.5%) compared to the amount of €7,943m achieved as at 31 December 2021, thanks to positive results in both the MV business which recorded premiums of €3,888m, up 1.3% compared to the previous year, and the non-MV business, with income of €4,416m and growth of 7.6% compared to 31 December 2021.
The direct business combined ratio, as at 31 December 2022, amounted to 91.0% (93.8% net of reinsurance) compared to a figure of 92.5% as at 31 December 2021 (95.0% net of reinsurance). The direct business loss ratio stood at 62.2% (64.0% at 31 December 2021), while the direct business expense ratio stood at 28.8% (28.5% at 31 December 2021), influenced by a production mix geared more towards higher commission products along with higher profit margins.
In the Life business, the Group reported direct income of €5,341m, substantially in line (-0.8%) with the figure of €5,386m recorded in 2021, in an unfavourable market environment marked by high levels of inflation, highly volatile financial markets and increased interest rates.
Consolidated Results at 31 December 2022
