Unipol, in the plan to 2024, profits of 2.3 billion plus dividends

A cumulative profit of € 2.3 billion and cumulative dividends of € 750 million. These are some of the objectives of the new strategic plan for 2024 of the Unipol group. The subsidiary Unipolsai, for its part, will pay out 1.4 billion euros in dividends over the next three years. At the industrial level, the group aims at a premium income in the Non-Life sector of 8.9 billion euros (+1.1 billion euros compared to 2021), of which 1 billion in the Health sector, a combined ratio for Non-Life of 92.6% ( -2.7% compared to 2021) and premium income in the Life sector of € 5.8 billion (+ € 400 million compared to 2021). “Innovation and digital evolution will guide the group’s development path in the coming years, opening new paths in the core insurance business, in line with our strategic vision”, said Carlo Cimbri, president of Unipolsai and Unipol Gruppo. commenting on the new plan, which opens “a new phase in the history” of the group. And for Matteo Laterza, CEO of Unipolsai and general manager of Unipol Gruppo, with ‘Opening New Ways’, the name of the new strategy, “we are targeting , financial and industrial, important, combined with a strong focus on shareholder remuneration and a solid level of capital, as is the tradition of the group “. The group aims to achieve a Combined Ratio of 93.9% in the Auto segment in 2024, to be obtained with the spread of low-cost app-based telematic solutions and the development of algorithms for pricing and underwriting purposes, and in the Non-Motor segment, a Combined Ratio of 85.9%. The collection target is 7.2 billion euros in the Non-Life sector, an increase of 500 million compared to 2021. In the Health sector, the group aims to innovate the offer and distribution models, reaching premium income of one billion (+300 million euros compared to 2021) and a Combined Ratio of 90.4% in 2024. An evolution of the Life value proposition is expected with the aim of inflows of 5.8 billion (+400 million compared to 2021). From the bancassurance channel, Unipol expects premium income of € 3.1 billion by 2024, of which € 500 million in the Non-Life segment and € 2.6 billion in the Life segment. In addition, the group aims to make investments of 500 million euros in new technologies in the period 2022-2024. The cost / income target at the end of the plan is 55%. The group expects 800 members to join the Solidarity Fund with 300 hires in the period 2022-2024. On the ESG and sustainability front, Unipol is aiming for a 30% incidence of products with an environmental and social value and 1.3 billion euros of investments in the field of Sustainable Development.