Milano Assicurazioni S.p.A.: consolidated half-year Report at June 30, 2012 approved
Thursday, August 2, 2012
Group reports turnaround performance with net profit of euro 3.1 million
Solvency margin stable at above 1.3
Combined ratio at 99.1%
Premiums Written
- Non-Life Division: Euro 1,438.8 million (-7.7%)
- Life Division: Euro 201.4 million (+3.5%)
Technical performance
- Combined Ratio at 99.1% from 102.4% at June 30, 2011 and 114.1% at the end of 2011
- Claims reported drop 16.6%
Result for the period
- Group net profit of Euro 3.1 million (loss of Euro 58.7 million in H1 2011)
Balance Sheet
- Group shareholders’ equity of Euro 1,031.5 million (Euro 928.2 million at December 31, 2011)
- Solvency I ratio at 132.9% (133% at end of 2011 and 152% at June 30, 2011)
The Milano Assicurazioni S.p.A. Board of Directors approved the consolidated results for the First Half of 2012.
The Group reports a net profit of Euro 3.1 million compared to a loss of Euro 58.7 million in the first half of 2011.
Please read the pdf document.