HDI Assicurazioni’s Board of Directors approved the results for the half year ended 30 June 2019. The insurance company saw substantial growth in the net profit for the half year, up €12.57 million on the first half of 2018 to €24.07 million.

Both life and non-life insurance businesses improved, with the non-life insurance lines up €1.84 million on the first half of the previous year to €9.15 million and the life insurance lines up €10.73 million on the same period of 2018 to €14.92 million.

The pre-tax profit nearly doubled, totalling €36.75 million (+€18.03 million on the first half of 2018), €12.97 million of which was generated by non-life insurance and €23.78 million by life insurance, up €16.01million on the same period of the previous year. Net equity at 30 June 2019 amounts to €268.68 million.

Direct business premiums showed double-digit growth, up 12.9% to €931.07 million. This growth was mainly due to the strong performance of the life insurance lines, which generated premiums of €724.41 million (+15.5% on the first half of 2018), while the non-life lines brought in €206.66 million (+4.5% on the first half of 2018).

Investments also confirmed their growth trend. Excluding investments benefiting life insurance policyholders who bear the risk and those arising from pension fund management, investments reached €6,492.91 million, up €571.84 million.

The technical performance of the expense ratio is also in line with the excellent results achieved. The combined ratio went from 94.71% in the first half of 2018 to 94.06% in the first half of 2019, confirming the steady improvement trend.

“It is clear that the results achieved in this first half year are very, very positive. We are thrilled,” said Roberto Mosca, Managing Director of HDI Assicurazioni. “And if we can continue this trend, all signs point to an excellent 2019 for our company. There is no doubt in my mind that our employees and our network agents will achieve this milestone, together.”