Unipol Group: 2011 Financial Statements approved

In non-life, business plan targets laid down for 2012 achieved a year ahead of time

• Non-Life business:
• Combined Ratio 95.5% (102.1% in 2010; 99.6% and 97.5%, respective of the 2011 and 2012 targets under the Business Plan)  
  
• Direct premiums €4,333m (+2.1% compared with 2010)¹
  

• Life business: new business value (NBV) in 2011 approx. €50m (€42m in 2010)²
  

• Solvency margin 1.4 times the statutory requirements; excess capital €900m
  

• Consolidated net profit before impairment of the goodwill of Unipol Banca €226m (-€94m after impairment)

• Direct third party customer deposits +10.2% compared with 2010. Improvement in the gap between third party customer deposits and lending of approximately €600m

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Integration plan between the Unipol Group and the Fondiaria Sai Group as prepared by Unipol Gruppo Finanziario S.p.A.
Guidelines

• 2015 targets:
• Non-Life premiums of approx. €10.5m; Life premiums of €7.1m
• Combined Ratio of approximately 93%
• Net synergies valued at more than €300m
• Estimated net profit of around €1bn
• Solvency margin approximately 1.5 times the statutory requirements

¹ Under the new Group consolidation scope, i.e. including the Arca Group
² 2010 figures recalculated according to 2011 hypothesis