(Alliance News) - The board of directors of Net Insurance Spa on Tuesday approved the 2022 consolidated financial statements, which closed with a consolidated net profit of EUR8.4 million, down from EUR11.3 million last year. The board proposed a dividend of EUR0.1357 per share from EUR0.1711 last year.

Net Insurance Group's gross written premiums amounted to EUR184.8 million, up 24 percent from the same period last year. The "turnover" figure exceeded the target of EUR15.7 million, more than the 9.3% target set in the business plan.

The margin on ordinary operations increased from EUR10.6 million to EUR18.2 million.

"In terms of overall technical performance, the multi-specialty approach resulted in a positive Combined Ratio result of 88 percent, gross of Reinsurance, and 73 percent, net of Reinsurance," the company note reads.

In terms of solvency, the group closes fiscal year 2022 with a Solvency II Ratio level of 172 percent, while it was 181 percent at the end of 2021.

Finally, the normalized ROE is 16 percent.

Net Insurance closed Tuesday's session in the red by 0.2 percent at EUR9.44 per share.

By Maurizio Carta, Alliance News reporter

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