Unipol on Track to Meet FY27 Targets Despite Weather Claims, Berenberg Says

01:00 PM EST, 11/04/2026 (MT Newswires) -- Berenberg believes Unipol Assicurazioni (UNI.MI) is fully on track to reach its 2027 targets despite weather-related claims in the third quarter of 2026. "For Unipol, we believe that Q3 2026 was characterised by high seasonal weather-related claims (natural catastrophes (nat cats)) in non-life, and, with regard to the company's solvency ratio, volatility in the bond market. Despite this, on an annual FY 2026E basis, we believe that Unipol is fully on track to achieve its 2027 targets, which include a 92% combined ratio, 4.9% premium growth per year in non-life over 2024-27, and 4.8% premium growth pa in life," analysts said Wednesday. Analysts also noted the Italian insurer's recently completed 2.5 billion-euro rights issue, which is set to support its planned purchase of 635 Banca Monte dei Paschi di Siena (BMPS.MI) branches from Intesa Sanpaolo (ISP.MI). Unipol plans to transfer the branches to BPER Banca (BPE.MI) in exchange for a larger stake in the bank, and has secured regulatory approval to gain de facto control of the latter. The research firm trimmed its net income and adjusted operating EPS forecasts for 2026 to 2028. The stock's buy rating and price target of 33.50 euros were left unchanged.