Unipol (UNI) Strategic Plan 2025 -2027 summary

Key achievements and financial performance

• 2022-2024 cumulative net profit reached €2,957m, exceeding the target by 29%.

• Cumulative dividends distributed were €1,283m, 34% above plan.

• Solvency 2 ratio at 212%, well above the 150-180% target range.

• Outperformed peers in TSR, being the best performing stock in FTSE MIB and Stoxx Europe 600 Insurance in 2024.

• Share remains undervalued compared to main peers despite strong performance.

Strategic priorities and business context

• Focus on consolidating leadership in the Italian insurance market and strengthening core business through risk-based portfolio optimization.

• Emphasis on technology, AI, and data-driven integrated retail platforms to enhance customer experience and operational efficiency.

• Omnichannel distribution model with agency network centrality, supported by digital and bancassurance channels.

• Expansion of integrated offerings beyond insurance, including mobility, welfare, and property services.

• Continued investment in people, skills, and generational renewal to support transformation.

Financial guidance and targets

• Consolidated net profit target of €3.8bn and Insurance Group net profit of €3.4bn for 2025-2027.

• Cumulative dividends of €2.2bn, with EPS CAGR of 13% and DPS CAGR of 10% through 2027.

• Average premium growth targeted at 4.9% annually, with Non-Life premiums to reach €10.6bn and Health at €1.4bn (+7.7% CAGR).

• Combined ratio to be reduced by 1.6 percentage points, aiming for 95% in motor and 92% in Non-Life by 2027.

• Organic capital generation expected to reach €3.6bn, with €1.0bn excess after dividends and growth financing.