Unipol First Quarter Profit Rises 15% to 329 Million Euros
The Italian financial group reported a 15.4 percent rise in comparable net profit to 329 million euros for the first quarter. Growth was driven by a 7.1 percent increase in direct insurance income while the solvency ratio remained robust at 248 percent.
UNIPOL ASSICURAZIONI SPA reported a 15.4% rise in first-quarter net profit to 329 million euros on Friday. The result excludes contributions from BPER BANCA SPA and reflects growth in core insurance activities across Italy. Investors are tracking the group's capital strength as it navigates a consolidating domestic banking sector.
### Insurance Growth and Banking Consolidation Direct insurance income rose 7.1% to 4.8 billion euros during the first three months of the year. Non-life segments contributed 2.5 billion euros to that total, according to the financial group's earnings report.
