Unipol Grupo Spa (UFGSY) Q1 2025 Earnings Call

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WEBVTT 00:00:00.318 -- 00:00:05.507 Good afternoon. This is the Coruscant Conference Operator. 00:00:05.507 -- 00:00:10.775 Welcome and thank you for joining the Unipol Group Consolidated Results 00:00:10.775 -- 00:00:16.124 at March 31st, 2025 Q&A session conference call. 00:00:16.124 -- 00:00:18.949 At this time, I would like to turn the conference over to Mr. 00:00:18.949 -- 00:00:24.338 Matteo Laterza, CEO of Unipol, for a brief introduction. 00:00:24.338 -- 00:00:27.385 Please go ahead, sir. 00:00:27.385 -- 00:00:31.010 Good morning to everyone, and thank you for participating 00:00:31.010 -- 00:00:35.877 to this call on first quarter 25 result. 00:00:35.877 -- 00:00:40.964 I am here with Enrico Sanpietro, general manager of Unipol, to answer to 00:00:40.964 -- 00:00:43.388 your call. As usual, 00:00:43.388 -- 00:00:48.855 let me make some remarks on the numbers that we disclosed 00:00:48.855 -- 00:00:54.143 yesterday evening. It was a solid quarter, both 00:00:54.143 -- 00:00:59.236 in PNC and in life. On P&C, 00:00:59.236 -- 00:01:04.506 we had a good growth on premium driven by all 00:01:04.506 -- 00:01:09.775 distribution channel, mainly bank assurance. 00:01:09.775 -- 00:01:15.266 And at the same time, we had also a solid improvement in technical 00:01:15.266 -- 00:01:20.071 profitability with a combined ratio reaching 91%. 00:01:21.487 -- 00:01:26.737 Also in life, we had an improvement in technical 00:01:26.737 -- 00:01:31.886 profitability in the margin of life. And at 00:01:31.886 -- 00:01:37.236 the same time, we had also a quite significant improvement in net inflows 00:01:37.236 -- 00:01:39.236 driven 00:01:39.240 -- 00:01:44.732 both by the and bank assurance distribution network, but also 00:01:44.732 -- 00:01:46.955 by a slowdown 00:01:46.955 -- 0...