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UnipolSai 2015 net profit falls 5.8 pct after one-off
February 12, 2016 / 6:27 AM / 2 years ago

UnipolSai 2015 net profit falls 5.8 pct after one-off

MILAN, Feb 12 (Reuters) - Italian insurer UnipolSai said on Friday group net profit in 2015 fell 5.8 percent to 738 million euros ($834 million) burdened by an 84 million euro charge regarding deferred taxes.

The insurer, born from the merger of Unipol and rival Fondiaria-SAI, said its solvency I margin, a measure of financial strength, stood at 177 percent from 165 percent a year earlier.

The combined ratio, a measure of profitability, stood at 93.9 percent, it said.

The insurer said it planned to pay a dividend on the year of 0.15 euros per share.

Synergies generated by the company’s 2013-2015 business plan totaled 390 million euros, it said. ($1 = 0.8844 euros) (Reporting by Stephen Jewkes)

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