Unipol Gruppo Finanziario S.p.A. (BIT:UNI) has received 10-15 expressions of interest including Allianz SE (DB:ALV), Aviva plc (LSE:AV.), AXA Group (ENXTPA:CS), Società Cattolica di Assicurazione - Società Cooperativa (BIT:CASS), Zurich Insurance Group AG (SWX:ZURN) and others for €1.7 billion in assets it must sell as part of a merger with Fondiaria-SAI S.p.A (BIT:FSA), which is expected to close by the end of 2013. "The parties interested include Allianz, Axa, Aviva, Zurich, Cattolica and several private equity funds," Carlo Cimbri, Chief Executive Officer of Unipol said in a meeting with the foreign press. "We expect to close the sale by the end of the year though the transfer of property could slip into next year," Carlo Cimbri said. Carlo Cimbri also said the portfolio - which includes premiums, agencies and other assets - will be sold in two blocks but added any interested party would be able to make an offer for both.

Annual general meeting

AXA Group reported consolidated and parent earnings results for the year ended December 31, 2012. For the period, on consolidated basis, the company reported gross written premiums of EUR 84,592 million against EUR 80,570 million for the same period in the last year. Revenues were EUR 90,126 million against EUR 86,107 million for the same period in the last year. Net investment income was EUR 14,982 million against EUR 18,469 million for the same period in the last year. Net investment result excluding financing expenses was EUR 30,562 million against EUR 16,199 million for the same period in the last year. Income from operating activities before tax was EUR 5,867 million against EUR 4,657 million for the same period in the last year. Net income from operating activities before tax was EUR 5,417 million against EUR 4,390 million for the same period in the last year. Net operating income was EUR 4,283 million against EUR 3,379 million for the same period in the last year. Net cash provided by operating activities was EUR 10,519 million against EUR 15,384 million for the same period in the last year. Purchases of tangible and intangible assets were EUR 339 million against EUR 373 million for the same period in the last year. Return on equity (ROE) was 8.7% against 9.5% for the same period in the last year. Adjusted ROE was 13.3% against 10.3% for the same period in the last year. Adjusted earnings were EUR 4,257 million or EUR 1.81 per fully diluted share against EUR 3,169 million or EUR 1.37 per diluted share for the same period in the last year. Underlying ROE was 12.4% against 11.3% for the same period in the last year. For the year, on parent basis, the company reported financial and operating revenues of EUR 3,445 million against EUR 4,728 million for the same period in the last year. Operating profit was EUR 1,846 million against EUR 2,992 million for the same period in the last year. Profit on ordinary activities before tax was EUR 1,845 million against EUR 2,971 million for the same period in the last year. Net income for the fiscal year ended December 31, 2012 was EUR 3,261 million against EUR 8,649 million for the same period in the last year, mainly driven by a EUR 4,922 million gain on the disposal of the Australian and Canadian businesses, a EUR 1,113 million gain on carry-back receivables and EUR 1,086 million of exceptional dividends, EUR 826 million of which representing the cash proceeds from the disposal of shares in Taikang Life by AXA Leben AG and EUR 260 million paid by the company Vinci following the redemption of a loan granted to AXA Canada. After tax income, before depreciation, amortization and releases was EUR 0.65 against EUR 3.98 for the same period in the last year. After tax income, after depreciation, amortization and releases was EUR 1.37 against EUR 3.67 for the same period in the last year. A dividend of EUR 0.72 per share for the 2012 fiscal year will be proposed to the Shareholders' Meeting to be held on April 30, 2013 against EUR 0.69 per share paid a year ago.