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CONSOLIDATED INTERIM REPORT AS AT JUNE 30TH 2021

Comment of the CEO

Comment of the CEO

 

The positive trend for the Company continues, thanks to the effective actions implemented since the first months of last year. In this period, the critical issues related to the pandemic crisis have been mitigated by substantial managerial, organizational and investment interventions. In addition, the commercial actions made it possible to increase premiums collected, substantially improving the mix. Strengthened by the results we present today, we confidently confirm the guidance on the operating result expected for the end of the year.

 

Our Company is today increasingly strong and market-oriented, capable of creating value, oriented towards achieving results thanks to the centrality of the skills of its people, its agency and banking network. Cattolica today keeps growing thanks to continuous technological evolution and the creation of new commercial offers in a sustainable and profitable way.

Carlo Ferraresi

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Group Highlights

The consolidation area comprised the insurance Parent Company, ten insurance companies, of which one reinsurance company, one holding company, one real estate services company, seven service companies, two companies in the agricultural-real estate sector and six real estate property funds.

Total premiums written
2,598
mln € (+21.7%)
Operating result
155
mln € (-13.9%)
Consolidated profit
115
mln € (+304%)
Operating ROE
7.1%
Solvency II Ratio
197%
 
NON LIFE SEGMENT
Gross premiums written - direct non-life business
1,073
mln € (+2.3%)
Operating result
138
mln € (-6.3%)
Combined ratio for retained business
87.7%
 
LIFE SEGMENT
Gross premiums written - direct life business
1,516
mln € (+40.9%)
Operanting result
19
mln € (-45.5%)
 
OUR DISTRIBUTORS
Agencies
1,346
Branches
5,353
 
 

Market Share

Data and Graphics

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(*) The income statement figures as at June 30th, 2020 and 2021 and the assets and liabilities as at December 31st, 2020 of Lombarda Vita, the sale of which was carried out on April 12th, 2021, have been reclassified in the appropriate "held for sale" items pursuant to IFRS 5.

    30/06/17 30/06/18 30/06/19 30/06/20 30/06/21
KEY ECONOMIC INDICATORS (*) DATA EXPRESSED IN MILLIONS          
Total premiums written   2,624 2,955 3,268 2,135 2,598
Gross premiums written - direct non-life business   1,004 1,058 1,090 1,048 1,073
Gross premiums written - direct life business   1,613 1,892 2,171 1,076 1,516
Operating result   - 149 156 180 155
Consolidated net profit for the period   8 63 76 28 115
Group net profit for the period   1 51 61 10 107
    31/12/17 31/12/18 31/12/19 31/12/20 30/06/21
KEY EQUITY INDICATORS (*) DATA EXPRESSED IN MILLIONS          
Investment   23,285 31,502 33,402 24,456 24,929
Technical provisions net of reinsurance amount   19,969 28,262 30,273 22,115 22,225
Consolidated Shareholders' equity   2,108 2,255 2,351 2,613 2,677
Shareholders' equity pertaining to the Group   1,846 1,780 1,894 2,140 2,245
    30/06/17 30/06/18 30/06/19 30/06/20 30/06/21
KEY GROUP RATIO (*) DATA EXPRESSED IN THE PERCENTAGE          
Combined ratio for retained business   93.4 92.6 93.4 87.1 87.7
Operating Roe   - 8.1 8.6 8.2 7.1
    31/12/17 31/12/18 31/12/19 31/12/20 30/06/21
SOLVENCY II RATIO DATA EXPRESSED IN THE PERCENTAGE          
Solvency II Ratio   2.39 1.71 1.75 1.87 1.97
(*) The income statement figures as at June 30th, 2020 and 2021 and the assets and liabilities as at December 31st, 2020 of Lombarda Vita, the sale of which was carried out on April 12th, 2021, have been reclassified in the appropriate "held for sale" items pursuant to IFRS 5.
(*) The income statement figures as at June 30th, 2020 and 2021 and the assets and liabilities as at December 31st, 2020 of Lombarda Vita, the sale of which was carried out on April 12th, 2021, have been reclassified in the appropriate "held for sale" items pursuant to IFRS 5.
(*) The income statement figures as at June 30th, 2020 and 2021 and the assets and liabilities as at December 31st, 2020 of Lombarda Vita, the sale of which was carried out on April 12th, 2021, have been reclassified in the appropriate "held for sale" items pursuant to IFRS 5.
(*) The income statement figures as at June 30th, 2020 and 2021 and the assets and liabilities as at December 31st, 2020 of Lombarda Vita, the sale of which was carried out on April 12th, 2021, have been reclassified in the appropriate "held for sale" items pursuant to IFRS 5.

Headcount and sales network

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Total headcount

31/12/17 31/12/18 31/12/19 31/12/20 30/06/2021
1,579 1,692 1,778 1,796 1,788

Full time equivalent headcount

31/12/17 31/12/18 31/12/19 31/12/20 30/06/2021
1,517 1,631 1,717 1,746 1,737

Agencies

31/12/17 31/12/18 31/12/19 31/12/20 30/06/2021
1,494 1,444 1,395 1,360 1,346

Bank branches

31/12/17 31/12/18 31/12/19 31/12/20 30/06/2021
5,064 6,054 6,075 5,960 5,353