Unipol Group reported a significant surge in net profit for 2025, reaching €1.53 billion – a 36.8% increase compared to the previous year. The strong performance is driving a proposed dividend increase for shareholders, with a payout of €1.12 per share, up from €0.85 in 2024, totaling €804 million.
The results, published on , demonstrate a particularly robust performance in the insurance business, with net profits from this sector alone climbing 40.5% to €1.208 billion. This growth is attributed to positive technical performance within the core insurance operations, successful financial management, and contributions from the group’s banking associates.
Premium income also saw substantial growth, exceeding €17 billion (€17.4 billion punctual value). Non-life business increased by 4.5% to €9.6 billion, while life business experienced a more substantial rise of 20.6% to €7.8 billion. The combined ratio improved to 92.9%, down from 93.6% at the end of 2024, driven by a 2.5 percentage point decrease in the loss ratio. Specifically, the motor sector saw its profitability ratio fall by 5.2 percentage points to 94.8%.
Unipol’s financial strength is further underscored by a consolidated Solvency ratio of 233%, rising to 281% for insurance business alone. This indicates a strong capacity to meet its obligations to policyholders.
The proposed dividend represents a 31.8% increase and yields approximately 5.7%. The company has set a cumulative dividend target of €2.2 billion for the period 2025-2027.
Beyond the core insurance business, results from the group’s banking associates reached €691 million, compared to €393 million at the end of December 2024. This increase reflects the consolidation of results from Banca Popolare di Sondrio and Banca Bper, following Bper’s takeover of Sondrio.
Results from other activities totaled €72 million, up from €61 million at the end of December 2024. This growth was supported by the performance of Gruppo UNA, a leading Italian hotel operator, which saw a 4.5% increase in revenues compared to the previous year. Gruppo UNA’s gross profit also increased, reaching approximately €34 million, despite paying €52.8 million in passive rents, largely to Unipol, generating a gross return of over 9% on these properties.
The Unipol Group’s strong financial performance in 2025 positions it favorably for continued growth and shareholder returns. The improved combined ratio and solvency ratio demonstrate effective risk management and financial stability. The significant increase in premium income across both life and non-life segments suggests a successful strategy for expanding market share and diversifying revenue streams.
The positive results from the banking associates, particularly following the integration of Banca Popolare di Sondrio into Banca Bper, highlight the benefits of Unipol’s diversified portfolio. The performance of Gruppo UNA further contributes to the overall financial health of the group, demonstrating the value of its investments in the hospitality sector.
The proposed dividend increase is a clear signal of confidence in the company’s future prospects and a commitment to delivering value to shareholders. The yield of approximately 5.7% is likely to be attractive to investors seeking income-generating assets.
Looking ahead, Unipol’s ability to maintain its strong financial performance will depend on its continued success in managing risk, adapting to changing market conditions, and capitalizing on growth opportunities in both the insurance and financial sectors. The group’s diversified business model and strong financial position provide a solid foundation for future success.
