(ANSA) – MILAN, JUL 28 – In the first half of 2022, the results of the insurance business of Revo, parent company of the Elba Assicurazioni group, are in line with the targets of the 2025 plan.
Significant growth in gross premiums written to 56.2 million (+ 43.8%) thanks to a solid core business and the launch of new business lines. Elba Assicurazioni also grew with good profitability: net loss ratio of 28.1%. Adjusted operating profit amounted to 7.7 million euros, down from 11.8 million in the first half of 2021, fully in line with the plan – explains the group -, which will be affected in 2022 by the costs for the start of the merger project.
Net profit for the period was 1.6 million against 7.1 million in the previous year. Value adjustments on investments, following the contingent market trend, amounted to 4.8 million (compared to 0.2 million). “The results are very good, in perfect compliance with the plan, and we are growing strongly”, comments the managing director of Revo, Alberto Minali, underlining that the growth in premiums shows that “the operating machine is working very well and that business relations with agents and brokers are very good “. For Revo “the world of insurance brokerage is fundamental since we are particularly dedicated to the world of SMEs”. Minali also points out a “very good profitability, which is the best result in the sector. Furthermore,” we have managed to maintain a capital strength of over 260% which demonstrates our attention to the capital and risk profile of the company “.
(HANDLE).
Source: Ansa
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