Unipol Assicurazioni Spa · MIL:UNI
Unipol Assicurazioni Spa — Unipol Grupo — 9M 2020 Earnings Presentation
19 slides from Unipol Assicurazioni Spa's earnings presentation, Nov 13, 2020
Slide 1: QM z20 Consolidated Results
Mission Evolve QMz20 Consolidated Results Bologna - 13 November 2020 Unipol = UnipolSai ASSICURAZIONI
Slide 2: Disclaimer
2 This document has been prepared by Unipol Gruppo S.p.A. and by UnipolSai Assicurazioni S.p.A. solely for information purposes in the context of the presentation of its 9M20 results. Maurizio Castellina, Senior Executive responsible for drawing up the corporate accounts of Unipol Gruppo S.p.A. and
Slide 3: 9M20 Consolidated Results
3 1 2 9M20 Appendix Consolidated Results
Slide 4: 9M20 Consolidated Results
4 1 9M20 Consolidated Results
Slide 5: 9M20 Consolidated Results
5 9M20 Consolidated Results €m UNIPOL UNIPOLSAI 9M19 a 9M20 9M19 b 9M20 Consolidated pre-tax result 796 939 Consolidated pre-tax result 793 980 Non-Life 603 985 Non-Life 598 971 Life 217 51 Life 219 53 Holding and other -23 -98 Other -23 -44 Consolidated net result 577 759 Consolidated net result 57
Slide 6: Premiums by Company and Business Line
6 9M20 Consolidated Results €m Premiums by Company €m % var% Premiums by Business Line UnipolSai S.p.A. 4,722 86% -3.0% Premiums €m % var% UniSalute 325 6% +4.8% 5,730 5,521 -3.6% Mobility 3,165 57% -4.1% Linear 139 3% +0.6% Motor 2,926 53% -4.6% Incontra 67 1% -52.1% Other 239 4% +1.2% Arca Assicur
Slide 7: Combined Ratio Net of Reinsurance and Direct Business
7 9M20 Consolidated Results Net of Reinsurance Direct Business 96.0% 94.1% 86.0% 85.5% 28.1% 26.9% 26.8% 28.3% 67.2% 67.8% 59.2% 57.2% 4.6% 6.6% 7.5% 6.9% 9M19 9M20 9M19 9M20 Expense ratio Loss ratio Atm. Events + Heavy Losses Combined ratio net of reinsurance: operating expenses/earned premiums aft
Slide 8: Life Direct Premium Income
8 9M20 Consolidated Results €m Direct Premium Income Premiums by Company 4,278 €m % var% UnipolSai S.p.A. 2,185 70% -28.2% 3,114 -27.2% Arca Vita + AVI 877 28% -25.0% Other companies 53 2% -22.2% Total 3,114 100% -27.2% 9M19 9M20 Premiums by Line of Business Premiums by Distribution Channel €m % var
Slide 9: Segregated Accounts and Minimum Guaranteed Yields
9 9M20 Consolidated Results €m Segregated Accounts and Minimum Guaranteed Yields Technical Reserves by Minimum Guarantee a FY19 9M20 3.40% 9M19 Min. guar. yield €bn % €bn % 1.30% 2.10% 0%-1% 17.6 54% 19.4 58% 3.25% 1%-2% 7.5 23% 6.8 20% 9M20 1.17% 2.08% 2%-3% 5.4 17% 5.3 16% >3% 2.2 7% 2.1 6% avg. s
Slide 10: Total Investments 60.4 €bn
10 9M20 Consolidated Results Total Investments 60.4 €bn Financial Investment Yields Total Non-Life Life Equity and funds 2.9% Other 1.7% €m Yield €m Yield €m Yield Cash 1.3% Coupons and 1,105 3.0% 254 2.8% 843 3.2% Real Estate 7.0% dividends Corporate bonds 28.6% Realized/unrealized -43 -0.1% -1 0.0
Slide 11: Real Estate Portfolio 3.9 €bn
11 9M20 Consolidated Results Total Portfolio 3.9 €bn Development of RE Portfolio (€m) Breakdown by Cluster Breakdown by Sector FY19 3,950 6% 5% 4% Book Value 8% Core Real Estate Core instrum. investments +47 12% Non-Life 45% Development 57% 34% Life purchases Trading 0 Other 29% Land and Equivalent
Slide 12: Bad Loans Stock
12 9M20 Consolidated Results €m Bad Loans Stock FY19 9M20 Gross loans 3,465 3,188 48% Portfolio Secured loans Net loans 516 453 Breakdown Unsecured loans 52% Coverage ratio 85% 86% Bad Loans Collection 9M19 9M20 20% Collections 83 80 Collections Secured 7% loans Bad Loans reduction (GBV) 266 277 Bre
Slide 13: Solvency: Own Funds, SCR and Ratios
13 9M20 Consolidated Results €bn UNIPOL (consolidated) – Partial internal model UNIPOLSAI (consolidated) – Economic capital 258% 193% 3.2 4.1 8.0 8.3 5.1 3.8 Own Funds SCR Excess a Ratio Own Funds SCR Excess a Ratio UNIPOLSAI (solo) – Partial internal model 284% 2.9 8.2 5.3 Own Funds SCR Excess a Ra
Slide 14: Appendix
14 Mission Evolve Appendix Unipol | UnipolSai
Slide 15: Appendix: Unipol and UnipolSai Key Figures
15 Appendix €m UNIPOL UNIPOLSAI 9M19 9M20 9M19 9M20 Premium income a 10,008 8,635 Premium income a 10,008 8,635 Non-Life 5,730 5,521 Non-Life 5,730 5,521 Life 4,278 3,114 Life 4,278 3,114 Combined ratio b 94.1% 86.0% Combined Ratio b 94.1% 86.0% Consolid. net Result 577 c 759 Consolid. net Result 57
Slide 16: Group Structure
16 Appendix Last update 3 November 2020 Unipol Banking and Financials Insurance Bancassurance 85.24% 9.56% Services (insurance&ancillary) Hotel and Other UnipolReC BPER 14.76% 84.97% a 9.34% UnipolSai 98.99% 100% 94.69% 100% 100% 51% 63.39% UniSalute Linear Siat DDOR UnipolRe Incontra Arca Vita Arca
Slide 17: Debt Issues by Issuer
17 Appendix €m Last update October 2020 Nominal Sub./Sen./ Issuer Listed a Tier Maturity Coupon amount Hyb. UnipolSai 300 Sub. Tier II Jun, 2021 Eur3M+2.5% early redemption UnipolSai 262 Sub. Tier II Jul, 2023 Eur3M+2.5% announced UnipolSai 240 Hyb. Tier I Jul, 2023 Eur6M+2.5% UnipolSai 500 Su
Slide 18: Holding Assets and Liabilities, Net Financial Position
18 Appendix €m Assets Liabilities Liquid financial assets a 1,560 Financial debt to UnipolSai 568 Senior debt 2021 231 Senior debt 2025 1,000 Senior debt 2027 500 Senior green bond 2030 750 Liquid financial assets 1,560 Financial debts b 3,049 Net Financial Position -1,489 a Including liquid financi
Slide 19: Investor Relations Contacts
19 Adriano Donati Head of Investor Relations investor.relations@unipol.it investor.relations@unipolsai.it Giancarlo Lana Tel +39 011 654 2088 Eleonora Roncuzzi Tel +39 051 507 7063 Carlo Latini Tel +39 051 507 6333 Giuseppe Giuliani Tel +39 051 507 7218 Silvia Tonioli Tel +39 051 507 2371