Intesa Sanpaolo Vita Results at 31 March 2019 approved

• Life gross written premiums at €3.8 billion
• Non-Motor non-life insurance policies continue to grow
• Net profit at 159.9 million euros
• Solvency capital requirement at 195%

Milan, 7 May 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 31 March 2019. These concern the Intesa Sanpaolo Vita Insurance Group with reference only to companies subject to a controlling interest (excluding therefore Fideuram Vita) and, for the Unitary Division¹, to the Intesa Sanpaolo Vita Insurance Group including Fideuram Vita which, at the entity level², is consistent with the Insurance Division of the Parent Company Intesa Sanpaolo.

The consolidated results at 31 March 2019 of the Intesa Sanpaolo Vita Insurance Group, including Fideuram Vita, recorded a commercial performance and profitability which show the validity of the Insurance Group’s management strategy, despite a market background that is not especially favourable.

Life Gross written premiums stood at €3,806.5 million compared to €5,551.8 million at 31 March 2018, recording an overall reduction of 31.4% entirely attributable to the unit-linked segment, whose placement was affected by the uncertainty of financial markets. The collection of traditional and pension products increased by +43% and +8%, respectively. (The Intesa Sanpaolo Vita Insurance Group referring only to companies subject to a controlling interest recorded Life gross written premiums of €2,810.6 million in March 2019 compared to €4,626.7 million at March 2018, down 39.3%. The collection of traditional and pension products increased by +22% and +7%, respectively.

New Life written premiums amounted to € 3,750.2 million compared to €5,495.9 million at March 2018, down 31.8%. (The Intesa Sanpaolo Vita Insurance Group referring only to companies subject to a controlling interest recorded new Life written premiums of €2,771.2 million in March 2019 compared to €4,589.1 million at March 2018, down 39.6%).

P&C business premiums amounted to €156.8 million, up 36% compared to the previous year. There was significant growth in non-motor products on which the 2018-2021 business plan is focussed. In particular, Home and Health products grew by 141%.

Net consolidated income stood at €159.9 million at 31 March 2019 (€204.3 million at 31 March 2018), a decrease of 21.7% mainly related to non-recurring financial components in the first quarter of 2018. (The Intesa Sanpaolo Vita Insurance Group referring only to companies subject to a controlling interest recorded a net consolidated income of €148.3 million in March 2019 compared to €187.9 million in March 2018, down 21.1%).

Assets under management grew from €148,803.2 million at December 2018 to €153,670.3 million at March 2019. (The Intesa Sanpaolo Vita Insurance Group referring only to companies subject to a controlling interest recorded AUM up to €121,764.6 million in March 2019 compared to €118,848.0 million at December 2018).

Shareholders’ equity stood at €5,523.5 million, an increase of €187.4 million (+3.5%) compared to year-end 2018, which had a shareholders’ equity of €5,336.1 million (The Intesa Sanpaolo Vita Insurance Group referring only to the companies subject to a controlling interest recorded shareholders’ equity of €4,754.6 million, up €167.7 million (+3.7%) compared to €4,586.9 million at the end of 2018).

The quarterly regulatory Solvency Ratio at 31 March 2019 was equal to 195%. (For the Intesa Sanpaolo Vita Insurance Group referring only to the companies subject to a controlling interest the Solvency Ratio was 193%).

For more information:

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