Tua Assicurazioni’s 2020 preliminary results

Tua Assicurazioni’s 2020 preliminary results
24 February 2021 - Time: 10:11

Verona, 24 February 2021. The Board of Directors of TUA Assicurazioni, which met yesterday under the chairmanship of Paolo Bedoni, examined the preliminary results for the 2020 financial year and reaffirmed the strategic guidelines for the three-year period 2021-23.

From an initial analysis of the preliminary data that emerged at the beginning of the year, 2020 will close with direct gross premiums written equal to approximately €278 million (€280 million FY2019) and a net technical result including financial profits, in a range between €18 and €20 million (€ -4 million FY2019).

Nazareno Cerni, CEO of TUA Assicurazioni, stated: “We are particularly satisfied with 2020 preliminary figures as they show our soundness, strength and the ability of TUA to respond promptly to the difficult pandemic, also thanks to its commercial partners and to the regeneration skills of its agency network”.

The Rolling Plan 2021-2023, which was approved by the Board of Directors of TUA on January 26, 2021, presents a strategy based on the “Strengthening of the weight of Non-Life business” through specific initiatives aimed at the development of Non-Motor products; the strategy is also based on the development of "Technical excellence", through the clustering of the portfolio based on agency profitability, and on "Sustainability" through particular initiatives aimed at enhancing development from a green perspective. Furthermore, TUA will increasingly be characterized as a company active in "specialty lines", through a more intense collaboration with CattRe, the specialty line vehicle expressly created by the Cattolica group in Luxembourg.

The achievement of these objectives is related to the completion of the Plan initiatives, launched in 2019 and continued in 2020.