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04/08/2015

Intesa Sanpaolo Vita: results as at 30 June 2015 approved

  • Gross Life business at 10,535.7 €/mln (10,272.3 €/mln in June 2014 +2.6%)
  • New Life business at 10,446.1 €/mln (10,171.2 €/mln in June 2014 +2.7%)
  • Investments at 100,173.8 €/mln (97,192.8 €/mln in December 2014 +3.1%)
  • Insurance provisions at 74,473.3 €/mln (74,413.9 €/mln in December 2014 +0.1%)
  • Financial Liabilities (unit and index linked) at 23,683.0 €/mln (20,464.1 €/mln in December 2014 +15.7%)
  • Shareholders' equity at 4,636.0 €/mln (4,379.5 €/mln in December 2014 +5.9%)
  • Net income at 378.9 €/mln (284.5 €/mln in June 2014 +33.2%)

Turin, 28 July 2015 - The Board of Directors of Intesa Sanpaolo Vita, chaired by Luigi Maranzana, approved the results of the Intesa Sanpaolo Vita Insurance Group as at 30 June 2015.

The Insurance Group, under the direction of Managing Director Nicola Maria Fioravanti, who is also responsible for the Insurance Division of the Intesa Sanpaolo Group, has achieved a significant increase in economic results (+33.2% compared to the same period in the previous year).

The end of the first half of 2015 confirmed a good commercial performance thanks to the contribution of the Intesa Sanpaolo Group's distribution networks: new life business as at June 2015 was equal to 10,446.1 €/mln, an increase of 2.7% compared to the results achieved in the first half of 2014 (10,171.2 €/mln ).

The gross life business at the end of the first half of 2015 amounted to 10,535.7 €/mln compared to the result for June 2014, of 10,272.3 €/mln (+2.6%).

The Insurance Group has achieved significant results in the first six months of 2015 with regard to the balance of the business mix. The impact on total gross business of unit-linked products stood at 45% at the end of the first half of 2015, against an incidence of 35.6% recorded in the first six months of 2014.

There was an increase of 3.5% in the insurance group's assets under management that rose from 94,878.0 €/mln in December 2014 to 98,156.3 €/mln. This change was recorded both in the insurance provisions and the financial liabilities related to the index linked and unit linked products:

  • +0.1% in insurance provisions up from 74,413.9 €/mln in December 2014 to 74,473.3 €/mln at the end of the first half of 2015;
  • +15.7% in Unit and Index Linked financial liabilities up from 20,464.1 €/mln in December 2014 to 23,683.0 million euro in June 2015.

Investments and cash and cash equivalents amounted to 103,133.9 €/mln as at the end of the first half year showing an increase of 3,380.5 €/mln (+3.4%) compared to the figure at the end of the previous year, which amounted to 99,753.4€/mln .

This excellent performance was also reflected in the consolidated net income that rose from 284.5 €/mln in June 2014 to 378.9 €/mln in June 2015 showing an increase of 33.2%.

The insurance group's shareholders' equity amounted to 4,636.0 €/mln, recording an increase of 256.5 €/mln (+5.9%) compared to the end of 2014, which showed shareholders' equity amounting to 4,379.4 €/mln.

Commenting on the six-monthly figures, Chairman Luigi Maranzana stated that:

"The results of the Intesa Sanpaolo Vita Insurance Group demonstrate how the new model of integration with the Intesa Sanpaolo Group offers growth and development margins of enormous importance. Such an opportunity has been promptly and effectively taken up under the direction of Managing Director Nicola Maria Fioravanti. Our leadership is now consolidated and recognised by the market," continued Maranzana. "The results of this half year corroborate our reputation by providing our Insurance Group with a decidedly strong profile".

Managing Director Nicola Maria Fioravanti commented with satisfaction: "An increase of over 33% in financial results compared to the same period for the previous year is a significant and absolutely relevant result, given that 2014 was recorded as one of the best years for the Insurance Group".

"The outcome of the collaboration with the distribution networks of the Intesa Sanpaolo Group is obvious and I am sure it will be increasingly significant" continued Fioravanti. "We have all the winning elements for this purpose: cutting-edge products in terms of innovation and flexibility, the highest level management and the strength of the Intesa Sanpaolo Group.

The excellent results of the first half of 2015 constitute a springboard for the challenges that await us in the second half of the year".

 

For information:

Gruppo Intesa Sanpaolo

Ufficio Media Banca dei Territori e Media Locali

06 67124992

stampa@intesasanpaolo.com