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Results as at June 2022 Slight lower results, solid financial position
Rome, 27th September 2022 – The Board of Directors of HDI Assicurazioni approved the half-year report, which shows a slight decrease in the results but confirms a solid financial position.
HDI Assicurazioni reports in the first half of 2022 a net result equal to €24,9 million, with a decrease of €7,9 million compared to €32,8 million generated in the same period of 2021.
For the half year closing the Company the IVASS Regulation no. 52 issued on 30/08/2022 has been applied, which introduces the right to amend from the usual valuation criteria for fixed income securities.
P&C business registers a result equal to €22,8 million, decreasing compared to €29,3 million of the first half of the 2021. Life Business result stands at €2,1 million, down compared to €3,5 million recorded in the previous year.
The pre-tax result is equal to €32,8 million, compared to €47,1 million reported in the first half of 2021, of which €31,9 million attributable to P&C business (-€9,9 million compared to 2021) and €0,9 million to Life Business (€-4,4 million compared to 2021).
Shareholders’ equity amount to €650,2 million, decreasing of €12,2 million compared to December 31, 2021.
Gross written premium from direct business stands at €755,1 million, -15,8% compared to €896,5 million of the first half of prior year. Life Business, with €532,9 million, shows a decrease of -22,5% against 2021. P&C business, with €222,2 million improves by +6,1%, thereof +4,3% in Motor and +10,2% in Non-Motor business.
The Investments amount to €7.909 million, decreasing by €345 million compared to December 31, 2021.
P&C Combined Ratio is equal to 92,0%, increasing by 14,6 p.p. compared to 77,4% of 2021. The Loss Ratio is equal to 62,0%, worsening by 15,3 p.p. compared to the previous year. The Cost Ratio, equal to 30,0%, shows an improvement compared to 30,7% registered in 2021.
Solvency Ratio registers an improvement from 245,4% registered as at December 31, 2021 to 276,2%.
"The half-year figures confirm the positive trend of our Company. A solid Company, as confirmed by the figures, despite the persistence of a complex and delicate global scenario in which we are all involved, mainly with reference to the inflationary scenario and the well-known international events", commented the CEO of HDI Assicurazioni, Roberto Mosca. "Notwithstanding the uncertainties deriving from the current global scenario, we have to do our best to further improve and to achieve a positive year-end closing for our Company ".
HDI Assicurazioni reports in the first half of 2022 a net result equal to €24,9 million, with a decrease of €7,9 million compared to €32,8 million generated in the same period of 2021.
For the half year closing the Company the IVASS Regulation no. 52 issued on 30/08/2022 has been applied, which introduces the right to amend from the usual valuation criteria for fixed income securities.
P&C business registers a result equal to €22,8 million, decreasing compared to €29,3 million of the first half of the 2021. Life Business result stands at €2,1 million, down compared to €3,5 million recorded in the previous year.
The pre-tax result is equal to €32,8 million, compared to €47,1 million reported in the first half of 2021, of which €31,9 million attributable to P&C business (-€9,9 million compared to 2021) and €0,9 million to Life Business (€-4,4 million compared to 2021).
Shareholders’ equity amount to €650,2 million, decreasing of €12,2 million compared to December 31, 2021.
Gross written premium from direct business stands at €755,1 million, -15,8% compared to €896,5 million of the first half of prior year. Life Business, with €532,9 million, shows a decrease of -22,5% against 2021. P&C business, with €222,2 million improves by +6,1%, thereof +4,3% in Motor and +10,2% in Non-Motor business.
The Investments amount to €7.909 million, decreasing by €345 million compared to December 31, 2021.
P&C Combined Ratio is equal to 92,0%, increasing by 14,6 p.p. compared to 77,4% of 2021. The Loss Ratio is equal to 62,0%, worsening by 15,3 p.p. compared to the previous year. The Cost Ratio, equal to 30,0%, shows an improvement compared to 30,7% registered in 2021.
Solvency Ratio registers an improvement from 245,4% registered as at December 31, 2021 to 276,2%.
"The half-year figures confirm the positive trend of our Company. A solid Company, as confirmed by the figures, despite the persistence of a complex and delicate global scenario in which we are all involved, mainly with reference to the inflationary scenario and the well-known international events", commented the CEO of HDI Assicurazioni, Roberto Mosca. "Notwithstanding the uncertainties deriving from the current global scenario, we have to do our best to further improve and to achieve a positive year-end closing for our Company ".