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08/05/2018

Intesa Sanpaolo Vita Results at 31 March 2018 approved

 

  • Good commercial performance: € 5.6 billion in life gross written premiums

  • A positive performance from non-motor policies

  • High profitability: € 204.3 million net income

  • Assets under management increase

 

Milan, 8 May 2018 – The Board of Directors of Intesa Sanpaolo Vita, chaired by Vice Chairman Elio Fontana and under the direction of the managing director Nicola Maria Fioravanti, also head of the Insurance Division of Intesa Sanpaolo, has approved the results of the Intesa Sanpaolo Vita Insurance Group at 31 March 2018, referring only to the companies subject to a controlling interest (therefore excluding Fideuram Vita) and, for the Unitary Division1, the consolidated/aggregate results of the Intesa Sanpaolo Vita Insurance Group including Fideuram Vita, which at entity level2 represent the same scope as the Insurance Division of the Parent Company Intesa Sanpaolo.

The consolidated results as at 31 March 2018 of the Intesa Sanpaolo Vita Insurance Group including Fideuram Vita showed a good commercial performance and high profitability, despite a market background that is not especially favourable, proving the validity of the Insurance Group’s management strategy.

Life gross written premiums came to € 5,551.8 million compared to € 6,037.1 million at 31 March 2017, down 8% (Intesa Sanpaolo Vita Insurance Group referring only to the companies subject to a controlling interest € 4,626.7 million in March 2018 compared to € 4,616.1 million in March 2017, up 0.2%).

New life business came to € 5,495.9 million at 31 March 2018 compared to € 5,977.1 million in March 2017, down 8% (Intesa Sanpaolo Vita Insurance Group referring only to the companies subject to a controlling interest € 4,589.1 million in March 2018 compared to € 4,577.4 million in March 2017, up 0.3%).

P&C business premiums amounted to 115 million in line with the previous year, but recording a good growth for non-motor products on which the 2018-2021 business plan will focus. In particular, Health and Accident products went up by nearly 100%, and Home insurance policies by 40%.

Consolidated net income came to € 204.3 million at 31 March 2018 compared to € 201.1 million at 31 March 2017, up 1.6% (Intesa Sanpaolo Vita Insurance Group referring only to the companies subject to a controlling interest € 187.9 million in March 2018 compared to € 183.3 million in March 2017, up 2.5%).

Assets under management increased by 0.4%, rising from € 151,343.5 million in December 2017 to € 151,914.9 million in March 2018 (Intesa Sanpaolo Vita Insurance Group referring only to the companies subject to a controlling interest € 120,857.0 million in March 2018 compared to € 119,895.8 million in December 2017, up 0.8%).

Shareholders’ equity stood at € 5,752.5 million, an increase of € 211.2 million (+3.8%) compared to the end of the 2017 financial year, which had a shareholders’ equity of € 5,541.3 million (the Intesa Sanpaolo Vita Insurance Group referring only to the companies subject to a controlling interest € 5,011.7 million, an increase of € 193.6 million, +4.0% compared to € 4,818.2 million at the end of 2017).

 

 

For more information:

Intesa Sanpaolo Group
Wealth Management Media Relations
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.