Despite the current national and international scenario, 2019 was an excellent year for HDI Assicurazioni. The company posted a net profit of €50.65 million, the highest in the insurance company’s history. The year was extremely positive, with a ROE of 20.7% and a 137.2% rise on the net profit for the previous year, which totalled €21.36 million.

The €50.67 million increase in the pre-tax profit put it at €85.13 million, (non-life insurance: €49.60 million; life insurance: €35.53 million). The performance of the life insurance lines was particularly strong, with the pre-tax profit up €29.94 million, as the non-life insurance lines jumped €20.73 million.

Direct business premiums totalled €1,687.88 million, up 15.7% on €1,458.89 for 2018. Issued non-life premiums, totalling €409.16 million, increased 4.7%, while issued life insurance premiums grew 19.7% to €1,278.72 million.

The technical results were also impressive, with a combined ratio down from 91.50% (2018) to 90.13% (2019), a clear sign of the company’s sound control over technical balances, ensuring better performance and development. The annual loss ratio went from 72.55% to 71.21%, while the total loss ratio went from 62.79% to 61.03%. On the other hand, the cost ratio increased slightly, from 28.71% to 29.10%.

Investments continued to grow. Excluding investments benefiting life insurance policyholders who bear the risk and those arising from pension fund management, investments total €6,476.34 million, up €898.87 million (+16.12%) on €5,577.47 million in 2018.

The upwards trend in the technical reserves also reflects the company’s soundness, as they total €6,537.06 million, up €640.21 million on €5,896.85 in 2018.

While the ROE in 2018 was 9.2%, the 2019 financial statements show a ROE of 20.7%, a significant increase of 11.5 percentage points. Net equity at 31 December 2019 amounts to €295.26 million, up €41.66 million from €253.60 million.

The number of points of sale is down slightly to 488 at 31 December 2019 (493 at 31 December 2018).

Roberto Mosca, Managing Director of HDI Assicurazioni was satisfied with these results. He said, “While the situation we are experiencing is on our minds at this time, we should nevertheless take a moment to appreciate the extremely positive 2019: HDI posted the highest profit it has ever recorded in the history of the company and its technical performance is steadily improving. These figures demonstrate how the professionalism and commitment of everyone who works at the company and with the sales networks every day are our most important assets.”