2003 Social Report - PDF file - Unipol

The Accounts of the Parent Company, Unipol Assicurazioni
UNIPOL ASSICURAZIONI – HIGHLIGHTS as at 31/12/2002
SECTION II – ADDED VALUE
During the course of 2002, Unipol Assicurazioni continued its activities along
the strategic guidelines set out in the Industrial Development Plan of 2000-
2003, supporting Group companies in their efforts to meet anticipated growth
and revenue targets and helping them to improve their competitive positions by
overseeing process management and all-round improvement.
At the end of 2002, the 40th year of trading, the Company returned a net profit
of €103.1m as against €83.2m in 2001 (+23.9%).
The following are some of the most significant aspects regarding the business
performance of Unipol Assicurazioni:
11% growth in premium income (10.5% for all premiums), with 15% growth
in Life business line;
strong improvement in technical result of the Non-life business line;
lower ratio of management costs to premiums (16.5% against 17.2% in
2001);
growth in investments and liquid assets of 8.2% and growth in net earnings
(+19.7%); net capital gains fell, on the other hand, by 53.8%, after a particu-
larly positive financial year 2002;
ordinary performance was well up on the previous year (+70.6%) and extraor-
dinary result down 54.1%;
pre-tax profit was €175.0m (+29.7%), and net profit €103.1m (+23.9%).
Amounts % Var. 2002/2001
Total premium income 1,901.7 +10.5
Technical provisions 5,122.0 +8.2
Investments and liquid assets 6,474.3 +8.2
Net profit 103.1 +23.9
Shareholders’ equity 1,387.7 +18.5
Proposed dividend 56.9 +16.6
Figures in € million
[ Unipol Assicurazioni | Social Report 2003 – Edition Summary ] 23