Unipol Grupo Spa (UFGSY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, this is the Coruscall Conference Operator. Welcome and thank you for joining the Unipol Group First Half 2025 Results Conference Call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star N2 on their telephone. At this time, I would like to turn the conference over to Mr. Matteo La Terza, CEO of Unipol. Please go ahead, sir. Good morning to everyone and thank you for participating to this call. Before opening the floor to the question, let me make some remarks on the number that we disclosed this morning. They were very solid numbers above all in terms of top line revenues and in terms of improving technical profitability. Starting from PNC, we achieved a premium growth at 4.5% driven by all the line of business above all, as usual, Health with a growth of 12% and bank assurance above 17%. Also in terms of technical profitability, the improvement was quite consistent with the combined ratio. at 92.7%, driven above all by motor, but also no motor, even if the comparison versus the first half of 2024 was negative because of a very tough comparison, we are on target compared to the numbers that we disclosed in the industrial plan. In life, also very solid premium growth, more than 22%, also due to some very important contracts we achieved in the second half of 2025, but also normalizing this number, the growth was above 8%, that is a very good number in terms of top-line growth. Also in terms of technical profitability, the numbers were very solid with a very high and consistent CSM release in the second half of 2025. Concerning investment, the first quarter was, as you remember,...