Intesa Sanpaolo Vita: consolidated results as at 30 September 2024 approved

• Life gross written premiums up to 13.7 billion euro 
• Assets under management rise to 176.4 billion euro
• Continued growth in non-motor policies 
• Net profit stands at 693.3 million euro
• Solvency capital requirement at 271%
   

Milan, 31 October 2024 – The Board of Directors’ meeting of Intesa Sanpaolo Vita, held on 31 October 2024 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 30 September 2024. 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) and, for the Unified Management², the Intesa Sanpaolo Vita Insurance Group including Fideuram Vita. 

The consolidated results as at 30 September 2024 of the Intesa Sanpaolo Vita Insurance 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 € 13,700.7 million, which compares with € 12,348.9 million as of 30 September 2023, an increase of 10.9% mainly attributable to the rise in inflows for Unit Linked policies of 32.2%, and the +4.7% of Traditional policies partially offset by the -8.9% of the Pension sector (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported gross life written premiums of € 10,858.5 million at 30 September 2024, compared to € 9,973.0 million at 30 September 2023, with an increase of 8.9% mainly attributable to the rise in inflows for Unit Linked policies equal to +33.3% and in Traditional policies equal to +5% partially offset by the contraction in inflows in the Pension sector of 
-14.9%).

Life new business stood at € 13,453.3 million, which compares with € 12,075.8 million at 30 September 2023, recording an increase of 11.4% (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported life new business of € 10,639.5 million as of 30 September 2024, which compares with € 9,733.6 million recorded as of 30 September 2023 with an increase of 9.3%).
P&C business premiums amounted to € 1.134.0 million, up 5.0% compared to September 2023. Premiums in the non-motor segment (excluding CPI – Credit Protection Insurance) increased by 3.6%, driven mainly by the Business, Home, Family and Accident Line of Business (LoB). Motor (+7.9%) and credit-related products (+33.5%) also saw growth. 

Group consolidated net profit amounted to € 693.3 million, compared to € 751.2 million at 30 September 2023 (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported a consolidated net profit of € 616.4 million at 30 September 2024, compared to € 690.6 million in the previous year). The result for the period ended 30 September 2024 was affected by the allocation of contributions to the Guarantee Fund for the Life segment, which was established following the “Legge di Bilancio 2024”.

Assets under management³ amounted to € 176,402.0 million compared to € 171,607.5 million in December 2023 (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported AUM of € 135,497.2 million at 30 September 2024, compared to € 133,548.7 million in December 2023). 

Shareholders’ equity stood at € 7,044.7 million, an increase of € 228.8 million after having paid € 550.3 million in dividends, equal to +3.4% compared to year-end 2023, when shareholders’ equity amounted to € 6,815.9 million (the Intesa Sanpaolo Vita Insurance Group referring only to the companies subject to a controlling interest recorded shareholders’ equity of € 6,195.0 million, up € 143.8 million compared to € 6,051.2 million at the end of 2023). 

The regulatory solvency ratio at 30 September 2024 was 271% (for the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, the solvency ratio was 274%).

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