Italian insurer Unipol reported a 36.8% surge in 2025 consolidated net profit to €1.53 billion, beating its first third of the €3.8 billion cumulative 2025-2027 target and sending shares up over 5%.

The outsized gain stemmed partly from banking associates, where pretax earnings nearly doubled to €691 million, driven by proportional consolidation of BPER results and financial effects from BPER’s exchange offer for BPSO. The banking segment delivered the sharpest year-on-year percentage gain in the group. Non-life insurance profits jumped 72.5% to €926 million, while life profits rose 13.6% to €369 million. The group also proposed a 31.8% dividend increase to €1.12 per share, yielding 5.7%.

Unipol’s consolidated solvency ratio strengthened to 233% from 212% at year-end 2024, with total shareholders’ equity rising 11.5% to €10.39 billion. The strong performance positions the group well ahead of its strategic plan targets after just one year.