Rome, 22 September 2021 - The Board of Directors of HDI Assicurazioni approved the half-year results, which show improving results and a solid financial position.

HDI Assicurazioni registered in the first half of 2021 a Net result equal to EUR 32.8 million, with an increase of +31.4% compared to EUR 25.0 million registered in the first semester of 2020. 

P&C business registers a positive result equal to EUR 29.3 million, with a strong improvement compared to EUR 14.7 million registered in HY2020. Life business result amounts to EUR 3.6 million, with a decrease of EUR 6.7 million compared to HY2020.

The pre-tax result is equal to EUR 47.1 million, compared to EUR 36.8 million recorded in HY2020, of which EUR 41.8 million attributable to the P&C business (EUR +20.9 million compared to 2020) and EUR 5.3 million to the Life business (EUR -10.6 million compared to 2020).

Shareholders’ equity amounts to EUR 630.2 million, showing an increase of EUR 248 million compared to December 2020. This increase is due to the EUR 225 million capital injection approved by the Shareholder’s Meeting of 29 April 2021, to the net result of the period and to EUR 9.8 million of dividend distribution occurred in May 2021.

Gross written premium from direct business stood at EUR 896.5 million, +15.9% compared to the EUR 773.3 million of the first half of 2020. Life business, with EUR 687.2 million, registered an increase of +19.3%. Non-Life business, with EUR 209.3 million shows an improvement of +6.1%, with an increase of +3.8% in Motor and +11.8% in Non-Motor.

The investments amount to EUR 8,079.3 million, increasing by EUR 580.1 million compared to FY 2020. Among the investments it is important to underline the participation in Amissima Assicurazioni, the company that has been acquired in April 2021.

Investment income has been affected by the financial environment characterized by quite low interest rates and stood at EUR 61.2 million compared to EUR 72.9 million of HY2020.

P&C Combined Ratio is equal to 77.4%, with an improvement of 13.4 p.p. from 90.8% in HY2020. The Loss Ratio is equal to 46.7%, with an improvement of 16.1 p.p. from the first half of previous year. The Cost Ratio increases by 2.7 p.p. (30.7% in HY2021 vs 28.0% in HY2020).

Solvency Ratio is equal to 241.0%, with an increase of 89.9 p.p. compared to December 2020, mainly due to the recognition of the participation in Amissima Assicurazioni and to the capital injection aimed at giving greater financial strength to the newly formed insurance entity. The ratio is calculated according to the Standard Formula, applying the Undertaking Specific Parameters (USPs), approved by IVASS.

«The half-year figures are positive and improving. In the last eighteen months we had to face a complex global scenario, but the results – as of today – are encouraging», commented the CEO of HDI Assicurazioni Roberto Mosca. «Nevertheless, we must continue to do more and better. Because only if we are able to continue with this trend, our company will reach an excellent year end result».