2003 Social Report - PDF file - Unipol

SECTION II – ADDED VALUE
ECONOMIC ACTIVITY
The Unipol Assicurazioni Group – 2002 Consolidated Accounts
As at 31 December 2002, the Unipol Group was the fourth largest insurer in It-
aly and comprised eight insurance companies, two real estate companies, one
holding company and a service company, all consolidated on a line-by-line ba-
sis. Twenty-one companies were assessed with the equity method. The 2002
Consolidated Accounts closed with a net profi t of € 102.1 million, well up on the
previous year (+63.8%).
Leading activities included:
22
premium income, gross of reinsurance, totalled €6,045.8m (61.6% from life
business line), with a growth rate of 22.3%;
the technical result of insurance management was positive, amounting to
€120.6m (compared to €35.1m as at 31/12/2001);
technical reserves amounted to €17,353.1m (up 18.6%);
investments and liquid assets totalled €17,686m, an increase of €2,866.8m
compared to 31/12/2001 (+19.3%);
net management costs amounted to €542.1m, with a ratio to premiums writ-
ten of 9.5% (10.9% as at 31/12/2001);
net profi t was €102.1m, well up compared
with the previous year (+63.8%).
Group consolidated profit
240
210
180
150
120
90
60
30
0
Profi t before
taxation
Net profi t
138.1
62.3
228.6
2001 2002
102.1
Figures in € million
Unipol Group - breakdown of premiums
61.9% Life
20.1% Motor TPL
5.5% Accident/Health
3.7% Fire/Other damage to property
3.5% Land vehicles - own damage
3.4% General TPL
1.4% Other classes
0.5% Bonds/Credit
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