Unipol's 9-month profit hit by staff exits but outlook stands
MILAN, Nov 8 (Reuters) -Italian financial group Unipol UNPI.MI reported a 5.9% year-over-year decline in its nine-month net profit on Friday as it agreed tofund nearly 500 requests of early retirement from staff.
The 724 million euro ($780.11 million) net result includes contributions from its stakes in lenders BPER MII.MI and Banca Popolare di Sondrio BPSI.MI but only for the first half of 2024.
The result rises to 834 million euros if the latest financial information published by the companies as of September end is taken into account.
Unipol's direct insurance income came in at 11.4 billion euros, with non-life income up 8.7% and life up 9.6% year-on-year.
The insurance group also said it expected its full-year income from consolidated operating activities to be in line with the targets set in its 2022-2024 strategic plan.
($1 = 0.9281 euros)
(Andrea Mandalà, editing Giulia Segreti and Eileen Soreng)
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