Intesa Sanpaolo Vita Results as at 30 September 2019 approved

• Life gross written premiums of 13.1 billion euro
• Assets Under Management grow to 163.8 billion euro
• Non-Motor non-life insurance policies continue to grow
• Net profit of 504.9 million euro
• Solvency capital requirement at 223%

Milan, 5 November 2019 – 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 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 level ², is the Insurance Division of the Parent Company Intesa Sanpaolo.

The consolidated results as at 30 September 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 € 13,149.2 million, compared to € 15,548.4 million as at 30 September 2018, showing an overall reduction of 15.4% 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 +4.1% 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 € 10,771.1 million in September 2019, compared to € 13,007.3 million in September 2018, a reduction of 17.2%. The collection of traditional and pension products increased by +2.2% and +5%, respectively).

New life business amounted to € 12,967.8 million, compared to € 15,383.7 million in September 2018, a reduction of 15.7% (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reported new life business of € 10,637.3 million in September 2019, compared to € 12,895 million in September 2018, a reduction of 17.5%).

P&C business premiums amounted to € 468.6 million, up 29.4% 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 107.4%, the Home and Health products in particular increasing by 112%.

The consolidated net outturn amounted to € 504.9 million, compared to € 553.4 million at 30 September 2018, with a decrease of 8.8% to be attributed mainly to financial elements in the course 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 € 464.6 million in September 2019, compared to € 514.5 million recorded in September 2018, a decrease of 9.7%).

Assets under management grew from the € 148,803.2 million of December 2018 to € 163,821.5 million in September 2019 (the Intesa Sanpaolo Vita insurance group, referring only to companies in which the Group has a controlling interest, reports an increase in AUM to € 130,750.3 million in September 2019, compared to € 118,848 million in December 2018).

Shareholders' equity stood at € 6,467.2 million, an increase of € 1,131.1 million (up 21.2%) compared to the end of the 2018 financial year, 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 € 5,647.8 million, an increase of € 1,060.8 million (up 23.1%), compared to the € 4,586.9 million at the end of 2018).

The regulatory quarterly Solvency Ratio as at 30 September 2019 stood at 223% (for the Intesa Sanpaolo Vita Insurance Group, referring only to companies in which the Group has a controlling interest, the solvency ratio was 218%).

For information:

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