The Board of Directors of Intesa Sanpaolo Vita has approved the results as at 31 March 2017 of the Insurance Group referring only to the companies subject to equity control (therefore excluding Fideuram Vita) and, by Unit Management, the consolidated/aggregate results of the Intesa Sanpaolo Vita Insurance Group including of Fideuram Vita, which represent, at entity level, the same perimeter as the Insurance Division of the Parent Company Intesa Sanpaolo.
"A quarter of extreme satisfaction for the insurance companies of the group" - declared Nicola Maria Fioravanti, head of the Insurance Division of the Intesa Sanpaolo Group - "which continue to contribute to and strengthen the Wealth Management Company model that the Intesa Sanpaolo Group has adopted".
“The results – continued the manager – are the consequence of strategic choices made over time which have allowed us to further strengthen the assets under management which reach approximately 145 billion euro, the shareholders' equity with over 5,3 billion and the solvency equal to 190%. We continue to maintain our leadership in the Life business thanks to the 23,9 billion in premiums collected in 2016 - corresponding to a market share of 20% - and we are working to achieve significant and sustainable growth also in the non-life business, to position ourselves among the major players of the national market. In the last two years we have doubled our non-life production and the first quarter stands at over 116 million euros with an increase of approximately 24% compared to the same period of 2016".
As for the future, says Fioravanti: "We expect that on an annual basis the result will improve further, also thanks to the constant commitment of our colleagues at the Banca dei Territori and to an expansion of the product range capable of responding better and better to the diversified needs of our clientele. Another objective of ours remains to maintain the strong growth already recorded in the world of supplementary pensions, where we aim for 100.000 new members this year. The results continue to confirm the effectiveness of our Bancassurance model and the perfect synergy between the various Group Divisions for the benefit of our customers and we are extremely proud of this".
Turning to the figures, assets under management increased by 1,5% going from 143.735,3 €/mln in December 2016 to 145.908,2 €/mln in March 2017 (Intesa Sanpaolo Vita insurance group referring only to companies subject to shareholding control 116.062,4 €/mln in March 2017 compared to 114.668,8 €/mln in December 2016, showing an increase of 1,2%), in particular: +5,9% on financial liabilities relating to index and unit linked products, - 1,4% on technical reserves, going from €86.382,1 million in December 2016 to €85.169,8 million at 31 March 2017 (in the Intesa Sanpaolo Vita insurance group, referring only to companies subject to equity control, the decrease is -1,5 .80.136,1% going from 2016 €/mln at the end of 78.953,6 to 2017 €/mln at the end of the first quarter of XNUMX).
As regards the commercial performance, new life business decreased by -3,8% from €6.211,2 million in March 2016 to €5.977,1 million as at 31 March 2017 (Intesa Sanpaolo Vita insurance group referring to only companies subject to equity control 4.577,4 €/mln in March 2017 compared to 5.126,5 €/mln in March 2016 with a change of -10,7%). Life gross business amounted to 6.037,1 €/mln compared to 6.279,0 €/mln as at 31 March 2016, showing a negative change of -3,9% (Intesa Sanpaolo Vita insurance group referring only to companies subject to shareholding control 4.616,1 .2017 €/mln in March 5.167,9 compared to 2016 €/mln in March 10,7 with a change of -XNUMX%).
Net production of 2.173,3 €/mln shows a decrease of 17,7% compared to the 2.640,2 €/mln recorded at 31 March 2016 (Intesa Sanpaolo Vita insurance group referring only to companies subject to shareholding control €1.854,9 /mln in March 2017 compared to 2.313,1 €/mln in March 2016, showing a negative change of 19,8%).
The consolidated net result shows a good performance, despite the market trend, going from 222,7 €/mln as at 31 March 2016 to 201,1 €/mln as at 31 March 2017, showing a decrease of 9,7% (Insurance Group Intesa Sanpaolo Vita referring only to companies subject to equity control 183,3 €/mln in March 2017 down by 11,0% compared to 206,0 €/mln recorded in March 2016).
Shareholders' equity stood at 5.338,9 €/mln, up by 96,1 €/mln (+1,8%) compared to the end of 2016 which had shown shareholders' equity of 5.242,8 €/mln ( the Intesa Sanpaolo Vita insurance group referring only to companies subject to equity control €4.657,4 million, up by €92,0 million, +2,0% compared to €4.565,4 million at the end of 2016).
The regulatory Solvency Ratio of the Intesa Sanpaolo Vita insurance group including Fideuram Vita is 190% (excluding Fideuram Vita which is 189%). The total amount of subordinated debt amounted to 1.417,0 €/mln compared to 1.401,9 €/mln recorded at the end of 2016 (Intesa Sanpaolo Vita insurance group referring only to companies subject to equity control 1.331,3 €/mln March 2017 compared to 1.316,2 €/mln recorded at the end of 2016).
