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06/11/2018

Intesa Sanpaolo Vita Results as at 30 September 2018 approved

 

  • Good commercial performance: € 15.5 billion in life gross written premiums

  • Non-Motor non-life insurance policies continue to grow

  • High profitability: net profit at 553.4 million euros

 

Milan, 6 November 2018 The Board of Directors of Intesa Sanpaolo Vita, under the chairmanship of Luigi Maranzana and under the management of the Chief Executive Officer Nicola Maria Fioravanti, also responsible for the Insurance Division of Intesa Sanpaolo, has approved the results as at 30 September 2018. These refer to the Intesa Sanpaolo Vita Insurance Group with reference only to companies subject to a controlling interest (excluding therefore Fideuram Vita) and, for the Unitary Division1, to the Intesa Sanpaolo Vita Insurance Group including Fideuram Vita which, at the entity level2, is consistent with the Insurance Division of the Parent Company Intesa Sanpaolo.

The consolidated results as at 30 September 2018 of the Intesa Sanpaolo Vita Insurance Group including Fideuram Vita, show a good commercial performance and high profitability, albeit in a not particularly favourable market context, and highlight the validity of the Insurance Group's management strategy.

Life Gross written premiums amounted to € 15,548.4 million compared to € 16,809.9 million as at 30 September 2017 with a decrease of 7.5% (Intesa Sanpaolo Vita Insurance Group referring only to companies subject to a controlling interest € 13,007.3 million as at September 2018 compared to € 13,436.4 million as at September 2017, with a decrease of 3.2%).

New Life written premiums amounted to € 15,383.7 million as at 30 September 2018 compared to € 16,633.5 million as at September 2017, with a decrease of 7.5% (Intesa Sanpaolo Vita Insurance Group referring only to companies subject to a controlling interest € 12,895.0 million as at September 2018 compared to € 13,318.5 million as at September 2017, with a decrease of 3.2%).

P&C business premiums amounted to 362.1 million, up 10.1% compared to the previous year. There was significant growth in non-motor products on which the 2018-2021 business plan is focussed. In particular, Health and Accident products grew by over 130% and Home and Family products grew by approx.45%.

Consolidated net income amounted to € 553.4 million as at 30 September 2018 compared to € 528.8 million as at 30 September 2017, with an increase of 4.7% (Intesa Sanpaolo Vita Insurance Group referring only to companies subject to a controlling interest € 514.5 million as at September 2018 compared to € 481.9 million recorded as at September 2017, with an increase of 6.8%).

Assets under management went from € 151,343.5 million as at December 2017 to € 151,951.0 million as at September 2018 (Intesa Sanpaolo Vita Insurance Group referring only to companies subject to a controlling interest € 120,665.3 million as at September 2018 compared to € 119,895.8 million as at December 2017).

Shareholders’ equity stood at € 5,614.1 million, an increase of € 72.8 million (+1.3%) compared to the end of the 2017 financial year, which had a shareholders’ equity of € 5,541.3 million (the Intesa Sanpaolo Vita Insurance Group referring only to the companies subject to a controlling interest € 4,877.3 million, an increase of € 59.1 million, +1.2% compared to € 4,818.2 million at the end of 2017).

 

 

 

For information:


Intesa Sanpaolo Group
Wealth Management Media Department
stampa@intesasanpaolo.com
+39 02 87963119
 

 

 

The insurance Parent Company Intesa Sanpaolo Vita, pursuant to Article 96 of Legislative Decree 209/2005 "Private Insurance Code", is required to prepare the consolidated/aggregate financial statements, also including the subsidiary Fideuram Vita in the scope of consolidation.

The companies included in the Intesa Sanpaolo Insurance Division are: Intesa Sanpaolo Vita, Intesa Sanpaolo Life, Intesa Sanpaolo Assicura and Fideuram Vita.