Rome, September 25^th, 2020

The Board of Directors of HDI Assicurazioni approved the half-year results, which show positive results in a challenging environment.

HDI Assicurazioni registered in the first half 2020 a Net result equal to 25,0 million Euro, with a slight improvement compared to 24,1 million Euro of the first half 2019.

Positive first half result of P&C business equal to 14,7 million Euro, with an improvement of 5,5 million compared to 2019. Life business result amounted to 10,3 million Euro, with a decrease of 4,6 million Euro compared to 2019.

Result before taxes was equal to 36,8 million Euro, in line with the first half of 2019, thereof 20,8 million Euro P&C (+7,9 million Euro compared to 2019) and 16,0 million Euro Life (-7,8 million Euro compared to 2019).

Shareholder’s equity amounted to 350,2 million Euro, showing an increase of 55,0 million Euro due to the net result of the period and to the 30 million Euro of capital increase approved by the Extraordinary Shareholder’s Meeting held on April 29^th 2020 and contextually paid in by the shareholders.

Gross Written Premiums, equal to 773,3 million Euro, were negatively affected by the economic crisis generated by the Covid-19 emergency. The reduction of 157,8 million Euro, -16,9% compared to June of the previous year, was mainly concentrated in Life business which recorded a reduction of 20,5% (in line with the market). P&C GWP registered a decrease of 4,6% both on Motor and non-Motor lines of business.

The investments amounted to 7.152,1 million Euro, increasing by 225,1 million Euro compared to December 2019.

The technical performance of the P&C business improved, with a decrease of combined ratio of 3,3 p.p., from 94,1% in the first half of 2019 to 90,8% in the first half of 2020. The loss ratio was equal to 62,8%, with a decrease of 2,3 p.p. compared to the previous year. Also the cost ratio decreased compared to the former year, from 29,0% to 28,0%.

“In these months we had to face an unpredictable and unthinkable situation, not only for our Company but for the whole world. Nonetheless, I look with satisfaction and cautious optimism at the results of this half year” said the CEO of HDI Assicurazioni Roberto Mosca. “If we are able to confirm the efforts made so far - doing even more and better - we will return to grow and register outstanding results as we did last year. This will be possible thanks to the efforts of our colleagues and our sales network, who have already shown that they can achieve all this, as demonstrated in recent months, against many material and emotional difficulties”.