With reference to 2019, the heads of Cattolica Assicurazioni expect substantially stable economic results compared to the previous year </p><div> <! - <EdIndex> -><p><img style="float: left;" src="http://www.soldionline.it/pictures/2019/05/10/cattolica-assicurazioni_1.jpeg" alt="Catholic-assicurazioni_1" width="200" /><strong>Cattolica Assicurazioni</strong> announced the results for the first nine months of 2019. The insurance company ended the period under review with a <strong>net profit (excluding minority interests) of 84 million euros</strong>, up 15.8% compared to € 24 72 recorded in the first three quarters of last year.
Total premium income rose by 16.5% to 4.99 billion euros (+ 7.2% on equivalent terms), as a result of the increase recorded in the Life segment (+ 23.4% to 3.45 billion euros).
At the end of September, the company's net assets amounted to € 2.4 billion, an improvement compared to € 2.23 billion at the beginning of the year. Also at the end of September the solvency margin (solvency II, which indicates the capital solidity of the insurance companies) stood at 169%, also thanks to the decline in the spread on Italian government bonds and despite the drop in risk-free interest rates.
On the same date, investments had risen to € 33.81 billion.
With reference to 2019, the heads of Cattolica Assicurazioni expect substantially stable economic results compared to the previous year, despite an insurance market still characterized by high competitiveness, low interest rates and a significant volatility of the spread on Italian securities.
Furthermore, management reported the material increase in the cost of claims related to weather events recorded in the first 9 months of the year.
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