MILAN, March 21 Italian insurer Unipol
said on Thursday the 2012 net profit of the new group that will
be created from the merger with peer Fondiaria-SAI was
441 million euros ($570.02 million).
Unipol last year agreed to rescue Fondiaria-SAI in a deal
that will create Italy's No. 2 insurer after Assicurazioni
The merger is expected to take place later this year.
In a statement Unipol said the solvency margin for the new
group at the end of 2012 was around 1.6 times regulatory
requirements, with an excess capital of 2.6 billion euros.
It said it expected operating results in 2013 to be positive
and in line with business targets.
Unipol, which said it will pay a dividend on 2012 results of
0.15 euros per ordinary share, said its net profit on a stand
alone basis was 241 million euros.
($1 = 0.7737 euros)
(Reporting By Stephen Jewkes; editing by Francesca Landini)