2020 was the third and final year of the 2018-2020 Business Plan, characterised by a strategic orientation whose main guideline is the concept of “profitable growth”. The idea of creating value over time has guided business choices and prepared the ground for a new design and operating phase directly related to corporate transformation and new governance.
Among the objectives set by the Plan, despite a scenario made complex by the persistence of the pandemic situation, some significant results were achieved, including an operating profit of 411.7 million, higher than the range of 375 - 400 million initially expected*, and the maintenance of a higher Solvency II Ratio than expected (between 160% and 180%), mainly thanks to the capital increase carried out in 2020.
In January 2021, the new rolling plan for the three-year period 2021-2023 was approved, which focuses on
- consolidation, with the completion of ongoing initiatives and technical developments in non-life business and the agency network;
- targeting, through the development of selected strategic initiatives and the revival of the profitability of the life business;
- sustainability, with initiatives for the Cattolica Estates, strengthening of the ESG orientation and the expansion of CSR activities.
*Reduced in March 2020 to a range between 350 and 375 million due to the changed scenario induced by the health emergency linked to the Covid-19 pandemic.