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03/11/2021

Intesa Sanpaolo Vita: consolidated results as at 30 September 2021 approved

 

  • Life gross written premiums up to 14.2 billion euro
  • Assets under management stood at 202.1 billion euro
  • Continued growth in non-motor policies 
  • Net income attributable to the Group up to 629.4 million euro
  • Solvency capital requirement at 273%

Milan, 3 November 2021 – 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 30 September 2021. They relate to the Intesa Sanpaolo Vita Insurance Group, which refers only to companies in which the Group has a controlling interest1 (excluding therefore Fideuram Vita, BancAssurance Popolari, Assicurazioni Vita, Lombarda Vita and Intesa Sanpaolo Insurance Agency) and, for the Unified Management2, the Intesa Sanpaolo Vita Insurance Group including Fideuram Vita, Assicurazioni Vita, Lombarda Vita, BancAssurance Popolari and Intesa Sanpaolo Insurance Agency. 

The consolidated results as at 30 September 2021 of the Intesa Sanpaolo Vita insurance group, including the companies subject to Unified Management, reported a business performance and level of profitability that highlight the validity of the Insurance Group’s management strategy.

Life gross written premiums stood at € 14,177.3 million, compared to € 13,061.0 million at 30 September 2020, an increase of 8.5%, which was attributable to figures of +47.7% in the Unit linked segment, which more than offset the -28.2% for traditional products (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported gross life written premiums of € 10,014.5 million at September 2021, compared to € 8,840.5 million at September 2020, an increase of 13.3%, attributable to figures of +59.7% for Unit linked products, which more than offset the -20.9% for traditional products).

Life new business amounted to € 13,818.5 million, compared to € 12,107.0 million in September 2020, an increase of 14.1% (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported new life business of € 9,776.0 million in September 2021, compared to € 8,637.2 million in September 2020, an increase of 13.2%).

P&C business premiums amounted to € 1,075.2 million, up 9.5% compared to € 981.6 million at 30 September 2020, considering the figures restated for consistency of comparison. There was growth of 18% in non-motor products (excluding CPI), on which the 2018-2021 Business Plan is concentrated. 

Consolidated net profit attributable to the Group amounted to € 629.4 million, compared to € 484.3 million at 30 September 2020, an increase of 30.0%3 (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported a net profit attributable to the Group of € 536.7 million at 30 September 2021, compared to € 447.1 million recorded in September 2020, an increase of +20.0%).

Assets under management amounted to € 202,071.4 million compared to € 202,326.1 million in December 2020 (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported AUM of € 135,947.8 million in September 2021, compared to € 135,547.1 million in December 2020). 

Shareholders’ equity stood at € 7,945.6 million, a decrease of € 105.7 million (-1.3%) compared to year-end 2020, which had a shareholders’ equity of € 8,051.3 million (the Intesa Sanpaolo Vita Insurance Group referring only to the companies subject to a controlling interest recorded shareholders’ equity of € 6,074.8 million, down € 75.3 million compared to € 6,150.1 million at the end of 2020). 

The regulatory solvency ratio as at 30 September 2021 was 273% (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, had a solvency ratio of 258%).

 

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

1 The companies subject to a controlling interest are: Intesa Sanpaolo Vita, Intesa Sanpaolo Life, Intesa Sanpaolo Assicura, Intesa Sanpaolo RBM Salute, Cargeas Assicurazioni. The income statement figures at 30 September 2021 have been restated in order to ensure uniform comparison with reference to the companies that entered the scope of consolidation during 2020 (Intesa Sanpaolo RBM, Bancassurance Popolari and Intesa Sanpaolo Insurance Agency) and during 2021 (Assicurazioni Vita, Lombarda Vita and Cargeas Assicurazioni).

2 The insurance Parent Company Intesa Sanpaolo Vita, pursuant to Article 96 of Legislative Decree 209/2005 “Private Insurance Code”, is required to prepare consolidated/aggregate financial statements, also including the subsidiaries Compagnie Vita Fideuram Vita, BancAssurance Popolari, Intesa Sanpaolo Insurance Agency S.p.A., as well as Assicurazioni Vita and Lombarda Vita from April 2021 and Cargeas Assicurazioni from June 2021.

3 Including the net income attributable to minority interests, the total net result at 30 September 2021 was € 555.5 million, compared to € 628.1 million at 30 September 2020.