• Net premiums earned increased by 8.7% to €12.6bn • Results were hit by event insurance claims due to COVID-19 and higher mortality in USA which was not COVID-related • Pre-tax profit decreased by 37% to €476m in Q1 20 • Tax ratio increased from 16% for Q1 19 to 54% for Q1 20 largely attributable to non-tax-deductible losses on disposal and write-downs • Prices rose by 3.0% and premium volume increased by 25.7% to some €2.1bn at April renewals
