Unipol, quarterly profit rises to 285 million

Unipol Assicurazioni's board of directors approved the first quarter accounts, which show a consolidated net profit of €407m (+12.1% vs 31 March 2024) including the contribution of the investees Bper and Popolare di Sondrio as at 31 March 2025. The reported net result was 285 million (+17.8%). Direct insurance premium income reached € 5 billion (+18.8%), of which € 2.4 billion (+4.7%) in Non-Life and € 2.6 billion (+35.5%) in Life, against a combined ratio of 91% (91.1% a year earlier). The Solvency Ratio stands at 218% (up from 212%), the insurance group's Solvency Ratio comes to 277%.

Direct premium income in Unipol Assicurazioni's non-life business as at 31 March 2025 stood at €2.387 billion, up 4.7% compared to the same period in 2024. All the group's sales channels and main lines of business contributed to the growth. In particular, the development of UniSalute continued to be very significant (+21.5%), with excellent performance of both the corporate and retail channels (Agency Network and Banking Networks), reports a note Positive results were achieved by the Motor segment which, with premiums of 1.11 billion, recorded growth of 4.5%, while the Non-Motor segment achieved premiums of 1.277 billion and growth of 4.9% on the first quarter of 2024.

The pre-tax result for the non-life segment was EUR 336m, compared to EUR 294m in Q1 2024, also reflecting an improved financial result. "The main actions envisaged in the new Strategic Plan 2025-2027 Stronger/Faster/Better are already underway and will gradually begin to produce their effects over the coming quarters," a note underlined.

In the Life segment, the Group's direct inflows amounted to EUR 2.6bn, registering growth of 35.5%, fuelled mainly by the bancassurance channel and inflows from newly acquired group pension contracts. Net of the latter, 'growth stood at 9.6%, with the value of new business in line with the objectives of the new 2025-2027 Stronger/Faster/Better Strategic Plan. In a highly volatile market environment, production continued to focus on traditional products with a view to protecting clients' investments and optimising the net flows of segregated funds'.

The Life segment's pre-tax result was EUR 72 million, up from EUR 65 million in the first three months of 2024.