Società Cattolica di Assicurazione Società Cooperativa : 9M2021 Results Presentation

Results at September 30th, 2021

Cattolica Assicurazioni Group

Verona, November 17th, 2021

Introduction

It should be noted that the income statement data of Lombarda Vita (disposed of on 12 April 2021) at 30 September 2020 and 2021 and its assets and liabilities at 31 December 2020 have been reclassified to the specific "discontinued" items pursuant to IFRS 5. The data commented on here are like for like, without the contribution of Lombarda Vita, which is synthetically represented in net profit together with the capital gain on disposal.

2

Key consolidated figures

Results at September 30th, 2021

(€ mln)			IAS IFRS RESULTS
	9M2020		9M2021		Δ%
						∆% 9M21/9M20: -6.1%
Total Direct Premiums	3,160		3,685	+16.6%
	(Lombarda Vita included)
Non-Life Direct Premiums	1,483		1,513	+2.0%
Life Direct Premiums1	1,677		2,172	+29.5%	∆% 9M21/9M20: -10.7%
	(Lombarda Vita included)
Combined ratio2	90.0%		89.7%		-0.3 pps
Cons. Shareholders' Equity	2,6133		2,691	+3.0%
Solvency II Ratio	187%3		193%		+6 pps
Operating Result	238		190	-20.3%
Consolidated Result	72		122	+70.4%
Group's Result	42		116	+178.6%
Adjusted Result	116		175	+51.7%
Operating Return On Equity	6.8%		5.6%		-1.2 pps

The 9M2021 and 9M2020 figures are shown on a like-for-like basis without the contribution of Lombarda Vita.
(1)	Including investment contracts.	3
(2)	Retained business.
(3)	At 31 December 2020.

Income statement by segment of activity

Results at September 30th, 2021

(importi in milioni)

Net Premiums

Net charges relating to claims

Operating expenses

Other revenues net of other costs (other technical income and charges)

Income on ordinary gross investments (Class C)

Income on ordinary gross investments (Class D)

Net income from investments in subsidiaries, associated companies and joint

ventures

Commissions income net of commissions expense

Operating expenses relating to investments Otherrevenues net of other operating costs

OPERATING RESULT

Realised and valuation income

Interests on subordinated debt

Non-operating net income from investments in subsidiaries, associated

companiesand joint ventures

Otherrevenues net of other non-operating costs

PROFIT (LOSS) BEFORE TAXATION FOR THE YEAR

Taxation

NET PROFIT (LOSS) FOR THE PERIOD

PROFIT(LOSS) FROM DISCONTINUED OPERATIONS

CONSOLIDATED PROFIT (LOSS) FOR THE YEAR

ofwhich pertaining to the Group

of which pertaining to minority interests

ADJUSTED RESULT

NON LIFE	LIFE		OTHER		TOTAL			∆%
9M2020	9M2021	9M2020	9M2021		9M2020	9M2021		9M2020	9M2021
1,384	1,400		1,638	2,157	0	0	3,022		3,557
-775	-821		-1,557	-2,323	0	0	-2,332		-3,144
-403	-414		-107	-129	0	0	-510		-543
-66	-21		-17	-40	0	0	-83		-61
64	68		241	235	0	0	305		303
0	0		-88	160	0	0	-88		160
3	4		-4	0	0	0	-1		4
0	0		-1	-1	0	0	-1		-1
-7	-8		-26	-27	-2	-2	-35		-37
-28	-33		-10	-15	-1	0	-39		-48
172	175		69	17	-3	-2	238		190		-20.3%
0	-6		0	3	-4	-9	-4		-12
-18	-16		-4	-8	0	0	-22		-24
-8	-2		-4	0	0	0	-12		-2
-13	-25		-83	-51	0	-1	-96		-77
133	126		-22	-39	-7	-12	104		75		-28.1%
-59	-59		-18	-5	1	3	-76		-61
74	67		-40	-44	-6	-9	28		14		-49.4%
0	0		44	108	0	0	44		108
74	67		4	64	-6	-9	72		122		70.4%
73	65		-25	60	-6	-9	42		116		178.6%
1	2		29	4	0	0	30		6		-78.5%
75	80		47	104	-6	-9	116		175		51.7%

The 9M2021 and 9M2020 figures are shown on a like-for-like basis without the contribution of Lombarda Vita, synthetically represented in net profit together	4
with the capital gain on disposal.

Consolidated Shareholders' Equity

Results at September 30th, 2021

	122	6	2,691
	2,613
	-43	-7	2,261
	2,140
Group's		Group's
Shareholders'			Shareholders'
Equity			Equity

FY2020 Shareholders' Equity	Profit for the period	Deconsolidation of	Dividends	Changes in IAS reserve and 9M2021 Shareholders' Equity
		Lombarda Vita		(1)
			other changes

(1) Including the changes of the AFS reserve (net of shadow accounting and taxation) and of other profits and losses recognized directly in equity and other	5
minor changes.