• Life gross written premiums up to 12.3 billion euro 
• Assets under management stand at 166.7 billion euro
• Continued growth in non-motor policies 
• Net profit rises to 751.2 million euro
• Solvency capital requirement at 224%
   

Milan, 3 November 2023 – The Board of Directors meeting of Intesa Sanpaolo Vita, held on 3 November 2023 under the chairmanship of Luigi Maranzana and under the direction of the Managing Director, Nicola Maria Fioravanti – also responsible for the Insurance Division of Intesa Sanpaolo – has approved the results at 30 September 2023. They relate to the Intesa Sanpaolo Vita Insurance Group, which refers only to companies in which the Group has a controlling interest¹ (excluding therefore Fideuram Vita) and, for the Unified Management², the Intesa Sanpaolo Vita Insurance Group including Fideuram Vita. 

The consolidated results as at 30 September 2023 of the Intesa Sanpaolo Vita Insurance Group, including the companies subject to Unified Management, reported good income and commercial performance, confirming the validity of the Insurance Group's management strategy.

Life gross written premiums rose to € 12,348.9 million, compared to € 11,856.5 million at 30 September 2022, an increase of 4.2%, which was mainly attributable to the +49.4% increase in traditional products partially offset by the -43.9% decrease in the unit-linked segment (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported gross life written premiums of € 9,973.0 million at September 2023 compared to € 9,833.4 million at September 2022, an increase of 1.4%, attributable mainly to figures of +37.5% for traditional products, partially offset by -54.0% for unit-linked products).

Life new business rose to € 12,075.8 million, compared to € 11,546.5 million at 30 September 2022, an increase of 4.6% (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported new life business of € 9,733.6 million at 30 September 2023, compared to € 9,560.2 million at September 2022, an increase of 1.8%).

P&C business premiums increased to € 1,079.6 million, up 0.9% compared to € 1,069.7 million at 30 September 2022, considering the figures restated for consistency of comparison. Premiums in the non-motor segment, which is also the focus of the new Business Plan, were up 6.4%.

Consolidated net profit grew to € 751.2 million, compared to € 695.2 million at 30 September 2022³ (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported a net profit of € 690.6 million at 30 September 2023, compared to € 650.8 million at September 2022).

Assets under management⁴ amounted to € 166,661.7 million compared to € 172,163.2 million in December 2022 (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported AUM of € 130,608.2 million in September 2023, compared to € 137,127.5 million in December 2022). 

Shareholders’ equity stood at € 6,470.1 million, an increase of € 305.1 million (+4.9%) compared to year-end 2022, which had a shareholders’ equity of € 6,165.0 million (the Intesa Sanpaolo Vita Insurance Group referring only to the companies subject to a controlling interest recorded shareholders’ equity of € 5,745.9 million, up € 235.8 million compared to € 5,510.1 million at the end of 2022).

The regulatory solvency ratio at 30 September 2023 was 224.4% (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, had a solvency ratio of 224.5%).

* * *

Intesa Sanpaolo Vita Group adopted the accounting standards IFRS 9 with reference to financial instruments and IFRS 17 with reference to insurance liabilities as of 1 January 2023. The recalculation of shareholders' equity and profit for the period ended 31 December 2022 according to the new accounting standards adopted did not lead to significant differences compared to the approved Consolidated Financial Statements of the Intesa Sanpaolo Vita Insurance Group.
 

For information:
Intesa Sanpaolo Group 
Wealth Management Media Office
stampa@intesasanpaolo.com
+39 02 87963119