Unipol Gruppo H1 2023 Results: Strong Growth in Premiums but Higher Combined Ratio Caused by Adverse Weather Events
Unipol Gruppo S.p.A. (Unipol or the Group) reported a consolidated net profit of EUR 517 million in H1 2023, a reduction of around 24% from the consolidated net profit in H1 2022 reported, according to the IFRS 4 accounting standard. However, H1 2023 net profit was 19% higher than the reclassified H1 2022 net income of EUR 433 million calculated, according to the new IFRS 17 accounting standard on insurance contracts that came into force on the January 1, 2023.
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