• Life gross written premiums of 17.9 billion euro
• Assets Under Management grow to 165.3 billion euro
• Non-Motor non-life insurance policies continue to grow
• Net profit of 681.4 million euro
• Solvency capital requirement at 238%

Milan, 4 February 2020 – 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 at 31 December 2019. They relate to the Intesa Sanpaolo Vita Insurance Group, which refers only to companies in which the Group has a controlling interest (excluding therefore Fideuram Vita) and, for the Unified Management¹, the Intesa Sanpaolo Vita Insurance Group including Fideuram Vita that, at the entity level², is the Insurance Division of the Parent Company Intesa Sanpaolo.

The consolidated results as at 31 December 2019 of the Intesa Sanpaolo Vita insurance group, including Fideuram Vita, despite a not-particularly-favourable market context, reported a business performance and level of profitability that highlight the validity of the Insurance Group's management strategy.

Life Gross written premiums amounted to € 17,937.4 million, compared to € 19,276.3 million as at 31 December 2018, showing an overall reduction of 6.9% entirely attributable to the unit linked segment, whose placement was affected by the uncertainty in financial markets. The portfolio of traditional and pension products increased by +9.8% and +6.7% respectively (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported Life Gross written premiums of € 14,087.2 million in December 2019, compared to € 15,649.8 million in December 2018, a reduction of 10.0%. The collection of traditional and pension products increased by +6.6% and +5.2%, respectively.

Life new business amounted to € 17,660.2 million, compared to € 19,031.9 million in December 2018, a reduction of 7.2% (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported new life business of € 13,876.0 million in December 2019, compared to € 15,478.9 million in December 2018, a reduction of 10.4%).

P&C business premiums amounted to € 671.6 million, up 32.4% compared to the previous year. There was a significant expansion of non-motor products (excluding CPI), on which the 2018-2021 Business Plan is concentrated, up by 101.7%, with the Home and Health products in particular increasing by 104.7%.

The consolidated net profit amounted to € 681.4 million, compared to € 672.0 million at 31 December 2018, an increase of 1.4% (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported a net profit of € 626.7 million in December 2019, compared to € 620.4 million recorded in December 2018, an increase of 1.0%).

Assets under management grew from the € 148,803.2 million of December 2018 to € 165,314.8 million in December 2019 (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported an increase in AUM to € 131,078.1 million in December 2019, compared to € 118,848.0 million in December 2018).

Shareholders' equity stood at € 6,420.2 million, an increase of € 1,084.1 million (up +20.3%) compared to the end of the 2018 financial year, when shareholders’ equity amounted to € 5,336.1 million (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported shareholders’ equity of € 5,591.8 million, an increase of € 1,004.9 million (up +21.9%), compared to the € 4,586.9 million at the end of 2018).

The regulatory solvency ratio as at 31 December 2019 stood at 238% (for the Intesa Sanpaolo Vita Insurance Group, referring only to companies in which the Group has a controlling interest, the solvency ratio was 232%).

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