Unipol Assicurazioni Spa · MIL:UNI
Unipol Assicurazioni Spa — Unipol Grupo — Q1 2020 Earnings Presentation
17 slides from Unipol Assicurazioni Spa's earnings presentation, May 15, 2020
Slide 1: Mission Evolve: 1Q20 Consolidated Results
Mission Evolve 1020 Consolidated Results Bologna-15 May 2020 Gruppo | ee BAS SICURAZIONI
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 1Q20 results. Maurizio Castellina, Senior Executive responsible for drawing up the corporate accounts of Unipol Gruppo S.p.A. and
Slide 3: 1Q20 Consolidated Results and Appendix
3 1 2 1Q20 Appendix Consolidated Results
Slide 4: 1Q20 Consolidated Results
4 1 1Q20 Consolidated Results
Slide 5: 1Q20 Consolidated Results Unipol and UnipolSai
5 1Q20 Consolidated Results €m UNIPOL UNIPOLSAI 1Q19 1Q20 1Q19 1Q20 Consolidated pre-tax result 237 191 Consolidated pre-tax result 253 235 Non-Life 178 220 Non-Life 179 221 Life 83 25 Life 83 26 Holding and other -24 -55 Other -10 -11 Consolidated net result 171 134 Consolidated net result 184 171
Slide 6: Non-Life Premiums by Company, Business Line and Channel
6 1Q20 Consolidated Results €m Premiums by Company €m % Var% Premiums by Business Line UnipolSai S.p.A. 1,665 84% -1.1% Premiums €m % Var% UniSalute 132 7% -2.8% 2,010 1,980 -1,5% Mobility 1,108 56% -0.9% Linear 49 2% -1.1% Motor 1,022 52% -2.0% Incontra 41 2% -25.0% Other 86 4% +13.5% Arca Assicura
Slide 7: Combined Ratio: Expense and Loss Ratios
7 1Q20 Consolidated Results Net of Reinsurance Direct Business 94.6% 92.0% 93.4% 90.0% 26.9% 27.4% 26.8% 27.0% 67.6% 66.6% 64.7% 63.1% 1Q19 1Q20 1Q19 1Q20 Expense ratio Loss ratio Combined ratio net of reinsurance: operating expenses/earned premiums after reinsurance + claims charges/earned premiums
Slide 8: Life Direct Premium Income by Line of Business
8 1Q20 Consolidated Results €m Direct Premium Income Premiums by Line of Business 1,312 €m % var% 1,139 -13.2% Traditional 595 52% -35.1% Unit linked 146 13% +106.1% Pension funds 187 16% +8.4% Capitalization 212 19% +38.5% Total 1,139 100% -13.2% 1Q19 1Q20 Premiums by Company Premiums by Distributi
Slide 9: Segregated Accounts and Minimum Guaranteed Yields
9 1Q20 Consolidated Results €m Segregated Accounts and Minimum Guaranteed Yields Technical Reserves by Minimum Guaranteed a FY19 1Q20 3.40% 1Q19 Min. guar. yield €bn % €bn % 1.39% 2.01% 0%-1% 17.6 54% 18.4 56% 3.37% 1%-2% 7.5 23% 7.1 22% 1Q20 1.21% 2.16% 2%-3% 5.4 17% 5.4 16% >3% 2.2 7% 2.2 7% avg.
Slide 10: Total Investments and Financial Investment Yields
10 1Q20 Consolidated Results Total Investments 55.5 €bn Financial Investment Yields Non-Life Life Total €m Yield €m Yield €m Yield Equity and funds 3.3% Other 1.6% Coupons and 76 2.5% 278 3.2% 355 3.0% Cash 1.6% dividends Real Estate 7.8% Realized/unrealized 44 1.4% 15 0.2% 40 0.3% gains/losses Tota
Slide 11: Real Estate Portfolio
11 1Q20 Consolidated Results Total Portfolio 3.9 €bn Development of RE Portfolio (€m) Breakdown by Cluster Breakdown by Sector 5% FY19 3,950 6% 5% 4% Book Value 8% Core Non-Life Core instrum. investments +14 12% Real Estate 45% Development 55% 36% Life purchases Trading 0 Other 29% Land and Equivale
Slide 12: NPEs Stock and Collections
12 1Q20 Consolidated Results €m NPEs Stock FY19 1Q20 Gross loans 3,465 3,343 48% Net loans 516 488 Portfolio Breakdown Secured loans Coverage ratio 85% 85% 52% Unsecured loans NPEs Collection 1Q19 1Q20 Collections 24 36 14% Collections 7% NPEs reduction (GBV) 78 122 Secured loans Breakdown Collectio
Slide 13: Solvency: Partial Internal Model and Economic Capital
13 1Q20 Consolidated Results €bn UNIPOL (consolidated) – Partial internal model UNIPOLSAI (consolidated) – Economic capital 200% 155% 3.5 4.4 6.8 7.1 3.5 2.4 Own Funds SCR Excess a Ratio Own Funds SCR Excess a Ratio UNIPOLSAI (solo) – Partial internal model 226% 3.1 6.9 3.8 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 1Q19 1Q20 1Q19 1Q20 Premium income a 3,322 3,119 Premium income a 3,322 3,119 Non-Life 2,010 1,980 Non-Life 2,010 1,980 Life 1,312 1,139 Life 1,312 1,139 Combined Ratio b 94.6% 92.0% Combined Ratio b 94.6% 92.0% Consolid. Net Result 171 134 Consolid. net result 184 17
Slide 16: Unipol Group Structure
16 Appendix Unipol 85.24% 9.98% UnipolReC BPER 14.76% 83.00% a 9.75% UnipolSai 100% 98.99% 51% 63.39% Linear UniSalute Incontra Arca Vita Arca Ass.ni Other Non-Life & AP&B, Alfa Evolution, Real Estate Diversified Life companies MyGlass Car Server companies businesses Companies listed on the Italian
Slide 17: Investor Relations Contacts
17 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