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31/07/2019

Intesa Sanpaolo Vita Results as at 30 June 2019 approved

 

  • Life gross written premiums of €8.0 billion
  • Assets Under Management grow to €157 billion
  • Non-Motor non-life insurance policies continue to grow
  • Net profit of €335.0 million
  • Solvency capital requirement at 205%

 

Milan, 31 July 2019 – The Board of Directors of Intesa Sanpaolo Vita, under the chairmanship of Luigi Maranzana and under the direction of the Chief Executive Officer, Nicola Maria Fioravanti - also responsible for the Insurance Division of Intesa Sanpaolo – approved the results as at 30 June 2019. They relate to the Intesa Sanpaolo Vita Insurance Group, which refers only to companies in which the Group has a controlling interest (excluding therefore Fideuram Vita) and, for the Unified Management1, the Intesa Sanpaolo Vita Insurance Group including Fideuram Vita that, at the entity level2, is the Insurance Division of the Parent Company Intesa Sanpaolo.

The consolidated results as at 30 June 2019 of the Intesa Sanpaolo Vita insurance group, including Fideuram Vita, despite a not particularly favourable market context, reported a business performance and level of profitability that highlight the validity of the Insurance Group's management strategy.

Life Gross written premiums amounted to €7,960.5 million, compared to €10,332.6 million as at 30 June 2018, showing an overall reduction of 23.0% entirely attributable to the unit linked segment, whose placement was affected by the uncertainty in financial markets. The portfolio of traditional and pension products increased by 34% and 6% respectively (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported Life Gross written premiums of €6,225.0 million in June 2019, compared to €8,590.1 million in June 2018, a reduction of 27.5%. The portfolio of traditional and pension products increased by 25% and 5%, respectively).

New life business amounted to €7,843.6 million, compared to €10,221.7 million in June 2018, a reduction of 23.3% (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported new life business of €6,141.1 million in June 2019, compared to €8,515.0 million in June 2018, a reduction of 27.9%).

P&C business premiums amounted to €313.4 million, up 26.2% compared to the previous year. There was a significant expansion of non-motor products (excluding CPI), on which the 2018-2021 Business Plan is concentrated, with a growth of 115%, the Home and Health products in particular increasing by 124.3%.

The consolidated net outturn amounted to €335.0 million, compared to €403.6 million at 30 June 2018, with a decrease of 17.0% to be attributed mainly to financial elements of the first half of last year (The Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported a net outturn of €305.5 million in June 2019, compared to €379.2 million recorded in June 2018, a decrease of 19.4%).

Assets under management grew from the €148,803.2 million of December 2018 to €156,961.4 million in June 2019 (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controilling interest, reports an increase in AUM to €124,624.1 million in June 2019, compared to €118,848.0 million in December 2018).

Shareholders' equity stood at €5,888.8 million, an increase of €552.7 million (up 10.4%) compared to year-end 2018, when net equity amounted to €5,336.1 million (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported net equity of €5,093.9 million, an increase of €507.0 million (up 11.1%), compared to the €4,586, 9 million at the end of 2018).

The regulatory quarterly Solvency Ratio as at 30 June 2019 stood at 205% (for the Intesa Sanpaolo Vita Insurance Group, referring only to companies in which the Group has a controlling interest, the solvency ratio was 201%).

 

 

For information:

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

 

 

1 The insurance Parent Company Intesa Sanpaolo Vita, pursuant to Article 96 of Legislative Decree 209/2005 "Private Insurance Code", is required to prepare the consolidated/aggregate financial statements, also including the subsidiary Fideuram Vita in the scope of consolidation.

2 The companies included in the Intesa Sanpaolo Insurance Division are: Intesa Sanpaolo Vita, Intesa Sanpaolo Life, Intesa Sanpaolo Assicura and Fideuram Vita.