Financial targets achieved
| €m | % | 2022-2024 actual | 2022-2024 target | 2022-2024 actual vs target |
|---|---|---|---|
| Consolidated cumulative net profita | 2,957 | 2,300 | +29% |
| Insurance Group cumulative net profitb | 2,319 | 2,104 | +10% |
| Cumulative dividendsc | 1,283 | 958 | +34% |
| Solvency 2 ratio (cons. PIM) | 212%d 260%d,e | 150%-180% | ca. +32 p.p.f |
a Normalized data (in 2022, normalized for the purchase of 1% of BPER and related change in interest -41 €m, Badwill Carige -188 €m and early retirement incentives +137 €m; in 2023, normalized for Badwill BPSO -267 €m)
b The net profit of the Insurance Group is calculated without considering the effects arising from the proportional consolidation of the associates BPER and BPSO. The financial contribution of said associates to the consolidated results therefore corresponds to the dividends paid in the period
c Unipol dividends + UnipolSai dividends distributed to shareholders different from Unipol, Unipol Investment, Unipol Finance and Unipol Part I
d At FY24
e The Solvency ratio of the Insurance Group is a management figure assuming that the shares held in BPER and BPSO are treated as investments in capital instruments with no strategic nature rather than as participations in credit institutions with consequent pro-rata consolidation of the own funds and capital requirements held in accordance with the relevant industry rules, as provided for in Articles 335 and 336 of Delegated Regulation (EU) 2015/35
f Based on upper bound of Solvency ratio target