Unipol Group reduces allocations of Italian debt investments

Written by Adam Cadle

12/02/2021

Unipol Group significantly revised its asset allocation during 2020 to reduce the solvency ratio volatility, with the percentage of Italian government securities falling from 50.1% to 42.2% in the portfolio and the sale of some risky equity investments in favour of “core Europe” government securities, high-rated corporate bonds and real assets.

The group solvency ratio between own funds and capital requirements amounted to 214% compared to 187% on 31 December 2019 taking account of the proposed dividend payment.

The gross return on the group’s portfolio continued to be significant, amounting to 2.9% of the invested assets, of which 3.0% relating to the coupon and dividend component.

Unipol Group reported a consolidated net profit of €864m (-20.5% compared to 2019). Direct insurance income was recorded at €12.2bn. Non-life business accounted for €7.9bn (-3.5%), and life business: €4.3bn (-26.0%).

Related Articles