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05/05/2017

Intesa Sanpaolo Vita: results at 31 march approved

 

  • Commercial performance with 6 billion euros of gross Life production

  • Increase of over 24% in non-life policies compared to 31 March 2016

  • High profitability with 201 million euros of net profit

 

Milan, 5 May 2017 – The Board of Directors of Intesa Sanpaolo Vita, chaired by Luigi Maranzana and under the direction of the managing director Nicola Maria Fioravanti, also head of the Insurance Division of Intesa Sanpaolo, has approved the results only of subsidiaries subject to a controlling interest (excluding therefore Fideuram Vita of the Intesa Sanpaolo Vita Insurance Group at 31 March 2017 and, for the Unitary Division1, the consolidated/aggregate results of the Intesa Sanpaolo Vita Insurance Group, including Fideuram Vita, which represent, in terms of entity2, the uniform scope of the Insurance Division of the Parent Company Intesa Sanpaolo.

The consolidated/aggregated results at 31 March 2017 of the Intesa Sanpaolo Vita Insurance Group, including Fideuram Vita, recorded high profitability, albeit in a not particularly favourable market context, and demonstrate the validity of the Insurance Group's management strategy.

Consolidated net income amounted to 201.1 million euros at 31 March 2017 compared to 222.7 million euros at 31 March 2016 (only subsidiaries subject to a controlling interest of the Intesa Sanpaolo Vita Insurance Group 183.3 million euros at March 2017 compared to 206 million euros recorded in March 2016).

As for the commercial performance, assets under management grew by 1.5%, increasing from 143,735.3 million euros at December 2016 to 145,908.2 million euros at March 2017 (only subsidiaries subject to a controlling interest of the Intesa Sanpaolo Vita Insurance Group 116,062.4 million euros at March 2017 compared to 114,668.8 million euros at December 2016 with growth of 1.2%).

New Life written premiums totalled 5,977.1 million euros at 31 March 2017 compared to 6,211.2 million euros at March 2016, with a decrease of 3.8% (only subsidiaries subject to a controlling interest of the Intesa Sanpaolo Vita Insurance Group 4,577.4 million euros at March 2017 compared to 5,126.5 million euros at March 2016, with a decrease of 10.7%).

Life Gross written premiums totalling 6,037.1 million euros, show a decrease of -3.9% compared to the 6,279.0 million euros figure reported at 31 March 2016 (only subsidiaries subject to a controlling interest of the Intesa Sanpaolo Vita Insurance Group totalling 4,616.1 million euros at March 2017 compared to 5,167.9 million euros at March 2016, with a change of -10.7%).

Gross Life production stands at 116.1 million euros compared to 93.8 million euros at 31 March 2016, with an increase of 23.8%.

Shareholders’ equity amounted to 5,338.9 million euros with an increase of 96.1 million euros (+1.8%) compared to the end of 2016 which had reported shareholders’ equity totalling 5,242.8 million euro (only subsidiaries subject to a controlling interest of the Intesa Sanpaolo Vita Insurance Group totalled 4,657.4 million euros with an increase of 92.0 million euros (+2.0%) compared to the 4,565.4 million euros at the end of 2016).

 

 

For information:


Gruppo Intesa Sanpaolo
Media Wealth Management Office
stampa@intesasanpaolo.com
+39 02 87963119
 

 

 

1In accordance with article 96 of Italian Legislative Decree 209/2005 the insurance Parent Company Intesa Sanpaolo Vita is required to prepare consolidated financial statements including the sister company Fideuram Vita in the scope of consolidation.

2The following companies are included in the Intesa Sanpaolo Insurance Division: Intesa Sanpaolo Vita, Intesa Sanpaolo Life, Intesa Sanpaolo Assicura, Intesa Sanpaolo Smart Care and Fideuram Vita.