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Intesa Sanpaolo Vita chi siamo sala stampa / press center press release Intesa Sanpaolo Vita: consolidated results as at 31 March 2021 approved
05/05/2021

Intesa Sanpaolo Vita: consolidated results as at 31 March 2021 approved

 

  • Life Gross written premiums up to 4.3 billion euro
  • Assets under management stood at 174.5 billion euro
  • Continued growth in non-motor policies 
  • Net profit rises to 217.1 million euro
  • Solvency Capital Requirement at 288% 

Milan, 5 May 2021 – The Board of Directors of Intesa Sanpaolo Vita, 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 – approved the results as at 31 March 2021. 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, BancAssurance Popolari and Intesa Sanpaolo Insurance Agency) and, for the Unified Management2, the Intesa Sanpaolo Vita Insurance Group including Fideuram Vita BancAssurance Popolari and Intesa Sanpaolo Insurance Agency S.p.A.. 

The consolidated results as at 31 March 2021 of the Intesa Sanpaolo Vita Insurance Group, including the companies subject to Unified Management, reported a business performance and level of profitability that highlight the validity of the Insurance Group's management strategy.

Life gross production amounted to €4,281.8 million, compared to €4,136.6 million as at 31 March 2020, an increase of 3.5% attributable to +52.8% for the Unit-linked segment and +5.3% for pension products, which more than offset the -38.9% for traditional products (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported gross life production of €3,108.6 million at March 2021, compared to €3,250.8 million at March 2020, a decrease of 4.4%, attributable to figures of -38.4% for traditional products, despite the increase of +54.3% for Unit linked products and +2.5% for pension products).

New life business amounted to €4,181.4 million, compared to €4,053.7 million in March 2020, an increase of 3.2% (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported new life business of €3,023.0 million in March 2021, compared to €3,184.2 million in March 2020, a reduction of 5.1%).

P&C business premiums amounted to €380.1 million, up 8.1% compared with €351.5 million at 31 March 2020, considering the figures restated for consistency of comparison. The growth in non-motor products (excluding CPI) of 17.8% is noted, on which the 2018-2021 Business Plan focuses. As at 31 March 2021, Intesa Sanpaolo RBM Salute accounted for 50.9% of the segment3 (49.1% as at 31 March 2020). 

Consolidated net profit amounted to€217.1 million, compared to €199.3 million as at 31 March 2020, up 8.9% (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported a net profit of €200.3 million as at 31 March 2021, compared with €189.5 million as at 31 March 2020, an increase of +5.7%) and includes profit attributable to minority interests of €3.4 million as at 31 March 2021 (€36.6 million restated at 31 March 2020). 

Assets under management went from €174,284.3 million in December 2020 to €174,546.9 million as at 31 March 2021 (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported AUM of €134,411.8 million in March 2021, compared with €135,032.7 million in December 2020). 

Shareholders' equity stood at €6,954.8 million, down by €100.1 million (-1.4%), compared with the end of 2020, when shareholders' equity stood at €7,054.9 million (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported shareholders' equity of €5,879.1 million, down by €120.4 million (-2.0%), compared with €5,999.5 million at the end of 2020). 

The regulatory Solvency Ratio as at 31 March 2021 was 288% (for the Intesa Sanpaolo Vita Insurance Group, referring only to companies in which the Group has a controlling interest, the solvency ratio was 281%).

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

1 The companies in which the Group has a controlling interest are: Intesa Sanpaolo Vita, Intesa Sanpaolo Life, Intesa Sanpaolo Assicura and Intesa Sanpaolo RBM Salute. The income statement figures as at 31 March 2020 were restated to ensure consistency of comparison with regard to the companies that entered the scope of consolidation during 2020. In particular, reference is made to Intesa Sanpaolo RBM Salute, control of which was acquired in May 2020, and to Intesa Sanpaolo Insurance Agency and BancAssurance Popolari, consolidated by Unified Management (Art. 96 of the Private Insurance Code) as from August 2020.

2 The insurance parent company Intesa Sanpaolo Vita, pursuant to Art. 96 of Legislative Decree 209/2005 "Private Insurance Code", is required to prepare consolidated/aggregated financial statements including in the scope of consolidation also the Vita subsidiary companies Fideuram Vita and, since August, BancAssurance Popolari, as well as Intesa Sanpaolo Insurance Agency S.p.A., a wholly-owned subsidiary of BancAssurance Popolari.

3 As at 31 March 2021, Intesa Sanpaolo RBM Salute had premiums of €193.3 million (+12.0% compared with €172.6 million as at 31 March 2020).