Intesa Sanpaolo Vita: the approved results of the insurance group as at 31 December 2013
- Life Gross Written Premiums of €13,946.2 million (€7,199.5 million for 2012, up 93.7%)
- Investments of €78,917.0 million (€72,863.1 million in 2012, up 8.3%)
- Technical reserves of €58,402.4 million (€51,137.0 million in 2012, up 14.2%)
- Financial liabilities (unit- and index-linked) of €16,813.8 million (€17,078.7 million in 2012, down 1.6%)
- Net result1 of €346.7 million (€342.8 million in 2012, up 1.1%)
Milan, 12 March 2014 – The Board of Directors of Intesa Sanpaolo Vita, presided over by the chairman, Salvatore Maccarone, approved the results for the year ended 31 December 2013 of the insurance group.2
The 2013’s result was market by excellent performance, great efficiency and sustainable profits.
The Intesa Sanpaolo Vita insurance group, led by CEO Gianemilio Osculati, achieved important and solid results, in keeping with those of 2012.
Full year 2013 was characterized by significant results, with €13,673.0 million in new business life premiums (€6,882.9 million for 2012, up 98.7%), which boosted the Insurance Group’s assets under management. Total technical reserves and financial liabilities associated with index- and unit-linked (AUM) rose by 10.1%, going from €68,215.7 million at the end of 2012 to €75,216.2 million at the end of 2013.
The excellent performance is reflected also in pre-tax profit which, for the year ended 31 December 2013, settled at €570.0 million, up 10.4% on the €516.5 million for 2012.
The chairman, Salvatore Maccarone, commented with full satisfaction: “2013 reiterated, confirmed and in many ways magnified the important results achieved in the previous year. The Life business was an excellent driver and the Group witnessed also a significant improvement in its balance sheet. These results allow us to say that the challenge posed by the bancassurance model was won, in a market that needs innovation and creativity. From this point of view, the Intesa Sanpaolo Vita Group showed that it can be a leader, thanks to the attention paid by management in studying products and services, which are strongly appreciated by customers and international markets. Such a strong, dynamic and energetic growth can only be the result of everyone’s combined effort. Our 2013 was a year of exceptional stimulus and dynamism. I wish to thank the management and all the colleagues, for their effort, intelligence and contagious energy.
Full year 2013 gave CEO, Gianemilio Osculati, reason to be proud: “I wish to stress the efficiency of Intesa Sanpaolo Vita from the point of view of production costs, together with the strong ability to keep risk in check. Intesa Sanpaolo Vita is a solid and sustainable Group and, in a period such as this, these are highly valuable qualities. Obviously, a 10.4% increase in pre-tax profit is excellent. I am particularly proud of the team: professionals who understand the needs and requirements of Italian households, with easy-to-understand products. Costs and risks held to the minimum and excellent results: Intesa Sanpaolo Vita’s recipe seems simple but it is the result of hard work which, luckily, is understood and appreciated by the market”.
For further information:
Intesa Sanpaolo Group
Banca dei Territori Media Office and Local Media