Intesa Sanpaolo Assicurazioni: consolidated results as at 31 December 2024 approved

• Life gross written premiums up to 18.1 billion euro 
• Assets under management rise to 177.3 billion euro
• Continued growth in non-motor policies 
• Net profit rises to 1,183.6 million euro
• Solvency capital requirement at 242%

Milan, 4 February 2025 – The Board of Directors’ meeting of Intesa Sanpaolo Assicurazioni, held on 4 February 2025 under the chairmanship of Riccardo Ranalli and under the direction of the Managing Director, Virginia Borla – also responsible for the Insurance Division of Intesa Sanpaolo – approved the results as at 31 December 2024. They relate to the Intesa Sanpaolo Assicurazioni Group, which refers only to companies in which the Group has a controlling interest¹ (excluding therefore Fideuram Vita) and, for the Unified Management², the Intesa Sanpaolo Assicurazioni Group including Fideuram Vita. 

The consolidated results as at 31 December 2024 of the Intesa Sanpaolo Assicurazioni Group, including the companies subject to Unified Management, reported good income performance, confirming the validity of the Insurance Group’s management strategy.

Life gross written premiums stood at € 18,120.4 million, an increase compared to € 15,303.9 million as of 31 December 2023, an increase of +18.4% mainly attributable to the rise in inflows for Unit Linked policies of +41.0%, and the +11.9% of Traditional policies (the Intesa Sanpaolo Assicurazioni Group, referring only to companies in which the Group has a controlling interest, reported gross life written premiums of € 13,852.7 million at 31 December 2024, compared to € 11,959.2 million at 31 December 2023, with an increase of +15.8% mainly attributable to the rise in inflows for Unit Linked policies equal to +45.8% and in Traditional policies equal to +11.0%).

Life new business stood at € 17,774.4 million, an increase compared to € 14,929.0 million at 31 December 2023, up +19.1% (the Intesa Sanpaolo Assicurazioni Group, referring only to companies in which the Group has a controlling interest, reported life new business of € 13,545.3 million as of 31 December 2024, which compares with € 11,630.2 million recorded as of 31 December 2023 with an increase of +16.5%).

P&C business premiums amounted to € 1,516.1 million, up +3.3% compared to December 2023. Premiums in the non-motor segment (excluding CPI – Credit Protection Insurance) increased by 1.9%, driven mainly by the Business, Home, Family and Accident Line of Business (LoB). Motor (+5.2%) and credit-related products (+33.8%) also saw growth. 

Group consolidated net profit amounted to € 1,183.6 million, compared to € 944.5 million at 31 December 2023 (the Intesa Sanpaolo Assicurazioni Group, referring only to companies in which the Group has a controlling interest, reported a consolidated net profit of € 1,089.6 million at 31 December 2024, compared to € 861.6 million in the previous year). The result for the period ended 31 December 2024 was affected negatively by provisions made for contributions to the Guarantee Fund for the Life segment, which was established by the 2024 budget law, net of taxes equal to € 46.0 million, and positively by the tax benefit, equal to € 293.2 million, deriving from the tax recognition of the market value of assets and liabilities, including intangibles, resulting from the merger by incorporation of Intesa Sanpaolo Life into Intesa Sanpaolo Assicurazioni Group.

Assets under management³ amounted to € 177,273.7 million compared to € 171,607.5 million in December 2023 (the Intesa Sanpaolo Assicurazioni Group, referring only to companies in which the Group has a controlling interest, reported AUM of € 134,983.5 million at 31 December 2024, compared to € 133,548.7 million in December 2023). 

Shareholders’ equity stood at € 7,527.4 million, an increase of € 711.5 million after having paid € 550.3 million in dividends, equal to +10.4% compared to year-end 2023, when shareholders’ equity amounted to € 6,815.9 million (the Intesa Sanpaolo Assicurazioni Group referring only to the companies subject to a controlling interest recorded shareholders’ equity of € 6,661.5 million, up € 610.3 million compared to € 6,051.2 million at the end of 2023). 

The regulatory solvency ratio as at 31 December 2024 was 242% (the Intesa Sanpaolo Assicurazioni Group, referring only to companies in which the Group has a controlling interest, had a solvency ratio of 239%).

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