Intesa Sanpaolo Vita: consolidated results as at 31 March 2024 approved

• Life Gross written premiums stand at 3.7 billion euro 
• Assets under management rise to 172.7 billion euro
• Continued growth in non-motor policies 
• Net income attributable to the Group up to 228.9 million euro
• Solvency capital requirement at 250%
   

Milan, 3 May 2024 – The Board of Directors’ meeting of Intesa Sanpaolo Vita, held on 3 May 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 31 March 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 31 March 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 € 3,722.4 million, which compares with € 4,627.8 million as of 31 March 2023, a decrease of 19.6% mainly attributable to the contraction in inflows for Traditional policies by -30.1% partially offset by the +6.6% of Unit Linked policies and the +16.7% 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 € 2,830.7 million at 31 March 2024, compared to € 3,809.8 million at 31 March 2023, with a decrease of 25.7% mainly attributable to the contraction in inflows for Traditional policies equal to 32.4% and for Unit Linked policies equal to 3.7%, partially offset by the +18.5% of the Pension sector).

Life new business stood at € 3,639.7 million, which compares with € 4,534.8 million at 31 March 2023, recording a decrease of 19.7% (the Intesa Sanpaolo Vita Insurance Group, referring only to companies in which the Group has a controlling interest, reported life new business of € 2,758.1 million as of 31 March 2024, which compares with € 3,728.6 million recorded as of 31 March 2023 with a decrease of 26.0%).

P&C business premiums stood at € 420.7 million, up 3.3% compared to € 407.3 million at 31 March 2023. Premiums in the non-motor segment, which is also the focus of the new Business Plan, were up 3.1%.

Consolidated net profit attributable to the Group grew to € 228.9 million compared to € 209.8 million at 31 March 2023³ (the Intesa Sanpaolo Vita Insurance Group, referring only to companies in which the Group has a controlling interest, reported a consolidated net profit attributable to the Group of € 200.6 million at 31 March 2024, compared to the € 192.6 million recorded the previous year).

Assets under management⁴ amounted to € 172,711.8 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 € 133,180.4 million at 31 March 2024, compared to € 133,548.7 million in December 2023). 

Shareholders’ equity stood at € 7,055.1 million, an increase of € 239.2 million (+3.5%) compared to year-end 2023, which had a shareholders’ equity of € 6,815.9 million (the Intesa Sanpaolo Vita Insurance Group referring only to the companies subject to a controlling interest recorded shareholders’ equity of € 6,261.2 million, up € 210.1 million compared to € 6,051.2 million at the end of 2023).

The Regulatory Solvency Ratio as at 31 March 2024 was 250.2% (for the Intesa Sanpaolo Vita Insurance Group, referring only to companies in which the Group has a controlling interest, the solvency ratio was 250.4%).

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