Rome March, 25, 2021 - The Board of Directors of HDI Assicurazioni approved the Financial statement as of December 2020.

The Company, in an unprecedented market, social and economic scenario, due to the pandemic, has demonstrated strong resilience with positive results and relevant financial strength.

HDI Assicurazioni reached in 2020 a Net result equal to €56.9 million, the highest net income in company’s history, with an increase of 12.4% compared to €50.7 million registered in 2019. 

P&C business registered a positive result equal to EUR 37,7 million, with an improvement of EUR 7,8 million compared to 2019. Life business result amounted to EUR 19,2 million, with a decrease of EUR 1,5 million compared to 2019.

P&C business recorded a net result of €37.7 million, improving €29.9 million net result as of FY2019. Life business result reached €19.2 million, down slightly from €20.7 million of FY2019.
The pre-tax result was €81.7 million, compared to €85.1 million recorded in 2019, of which €53.6 million were attributable to the P&C business (+€4.0 million compared to 2019) and €28.0 million to the life business (-€7.5 million compared to 2019).

Shareholders’ equity amounted to EUR 382,2 million, showing an increase of €86.9 million due to the net result of the period and to the €30 million capital increase approved by the extraordinary Shareholder’s Meeting of April 29, 2020 and simultaneously injected by the shareholders.

Premium income from direct business stood at €1,524.7 million, down 9.7% on the €1,687.9 million of the previous year. Life business, with €1,120.8 million, fell by 12.4%. Non-Life business, with €403.9 million fell by 1.3%, with a 1.7% decrease in Motor and substantial stability (-0.3%) in Non-Motor.
The investments amounted to €7.499,2 million, increasing by €572.2 million compared to FY 2019.
Investment income was affected by the financial environment characterized by quite low interest rates and stood at 145.5 million euros compared to 158.4 million euros of FY2019.

P&C Combined Ratio was 87.9%, an improvement of 2.2 p.p. from 90.1% in 2019. The Loss Ratio was 59.6%, an improvement of 1.4 p.p. from the previous year. The Cost Ratio improved as well of 0.9%  (28.2% in 2020 vs  29.1% in 2019).

Solvency Ratio was equal to 151,7%, with an increase of 11,5 p.p. compared to December 2019. The ratio is calculated according to the Standard Formula, applying the Undertaking Specific Parameters (USPs), approved by IVASS 

«The year 2020 will go down in history, for many reasons, as one of the toughest and most difficult years ever. The good results achieved this year by HDI are proof that we can do well, with tenacity and abnegation, despite difficulties and limitations», commented the CEO of HDI Assicurazioni Roberto Mosca. «We have no illusions and we know that the exit from the pandemic emergency, on the one hand, and the economic recovery on the other, will take time. Today, however, with these results we are reinforcing the foundations for a more solid future, also thanks to the recent acquisition of Amissima Assicurazioni, the formalization of which we expect shortly. Once again, we would like to thank our colleagues and our sales networks for allowing us to close a positive balance sheet, in a context that was by no means a foregone conclusion».