Consolidated profit in the first 9 months of 2015 of 594 million euros for the Unipol group with a growth of 37,8% compared to the same period last year. Premium income, on a like-for-like basis, fell by 6,2% to 12,08 billion. As regards premium income, the non-life business recorded a drop of 5,5% to 5.67 billion while the life business fell by 6,8% to 6,41 billion.
Positive first 9 months of the year for also for UnipolSai, the subsidiary that operates in insurance (mainly Life) and hotel services. The period closed with a net result of 602 million euro, an increase of 1,6% compared to the same period a year ago. However, direct deposits recorded a drop of 14,4%, stopping at 10,1 billion. In particular, premium income in the non-life business fell by 13,2% to 5,25 billion due to the sale of the business branch of the former Milano Assicurazioni agencies to Allianz. In Life business premium income amounted to 4,91 billion with a drop of 15,7% compared to the first nine months of 2014 when the sector had benefited from a very strong performance, especially in the bank insurance sector.
Furthermore, UnipolSai announced that the financial investments made in the first 9 months of the year achieved a significant return in the period in question, equal to around 5,2% of the invested assets.
In the UnipolSai galaxy, Atahotels recorded growing results in the first 9 months of 2015 thanks also and above all to the flow of tourists to Milan on the occasion of the Expo. The group achieved a positive net result of 4 million euros compared to a loss of 3 million in the same period last year. Turnover rose by 15% to 106,3 million with Ebitda up by 14% to 16,1 million.
Not exceptional results, however, for Allianz which saw third-quarter net profit drop by 15,4% to 1,36 billion, worse than market expectations.
The turnover of Europe's leading insurance company fell by 4,3% to 27,5 billion euros. In addition, operating profit fell 6,9% to $2,16 billion. The company acknowledged that "market volatility weighed on results" but stressed that the "group fundamentals remain solid across all divisions."
In any case, over the 9 months net profit grew by 3,9% to 5,2 billion, operating profit by 3,6% to 7,9 billion.
