2003 Social Report - PDF file - Unipol

SECTION IV – GROUP COMPANIES
LINEAR ASSICURAZIONI
Free-phone number 800-112233
Website: www.onlinear.it
Identity
Linear is the Group company special-
izing in telephone and Internet sales
of car insurance. It was incorporated in
1996 and given a nationwide reach in
1997. Today it is owned 80% by Unipol
SpA and 20% by Banca Agricola Man-
tovana. The company’s market share in
this segment is 17%.
Financial Results
During 2000 the company continued
to develop due largely to the use of In-
ternet, which now amounts to 32% of
premium income. Profit in 2002 was
€5.22m, up compared with €2.84m in
2001.
The net equity increased to €25.11m, up
from €13.88m in the previous year.
FINANCIAL HIGHLIGHTS 2000 2001 2002
Net profit 0.54 2.84 5.22
Shareholders’ equity 11.04 13.88 25.11
Premium income 39.18 66.85 97.96
Figures in € million
58
Social Report
Growth was partly generated by the ac-
quisition of 65,000 new customers. The
level of employment in the company
rose by 44 (from 176 to 220), particu-
larly in the call centre, which now em-
ploys 167 people (up from 133 in 2002).
A high percentage of employees are
women.
CUSTOMER DATA
2001 2002
Customers insured 185,000 250,088
Claims reported 15,030 21,934
Settled claims 7,206 11,569
Added value
For Linear added value as at 31/12/
2002 was €17,178,000 (€8,726,000 in
2001), distributed as follows:
DISTRIBUTION OF ADDED VALUE
2001 % 2002 %
Staff 4,475 51.3 6,298 36.7
Agents 112 1.3 120 0.7
Providers of services 881 10.1 1,967 11.4
State bodies 414 4.7 3,564 20.7
Shareholders
2,842 (*) Company assets
32.6
4,800
425
27.9
2.5
Local communities 2 0.0 4 0.1
Added value 8,726 100 17,178 100
(*) 2001 figures are included under the same item
Figures in € ‘000
The table shows that a considerable
portion of added value (€8,385,000 or
48.8%) is allocated to human resources
(employees, agents and external per-
sonnel such as experts, medical exam-
iners, lawyers, etc.)
[ Unipol Assicurazioni | Social Report 2003 – Edition Summary ]