Intesa Sanpaolo Vita's net profit dropped 21,7%. in the first quarter of 2019, reporting a downward trend from 204,3 million as at 31 March 2018 to 159,9 million as of March 31, 2019, to be mainly attributed to components of a financial nature realized in the first quarter of last year. The contribution of this result to that of the parent company is approximately 10%.
The gross production of the Life segment also recorded a decrease of 31,4%, going from 5.5 billion at 31 March 2018 to 3.8 billion as of March 31, 2019.
The Board of Directors of Intesa Sanpaolo Vita, which met under the chairmanship of Luigi Maranzana and under the direction of the chief executive officer Nicola Maria Fioravanti, approved the results as at 31 March 2019, which according to what is stated in the group's official note it concerns the commercial performance new Life business decreased by 31,8%, going from 5.4 billion as at 31 March 2018 to 3.7 billion in the same period of 2019.
On the other hand, assets under management are on the increase, rose by 3,3% to 153,67 billion, together with shareholders' equity which increased by 3,5% to 5,52 billion and the Solvency requirement stood at 195%. Even the shareholders' equity in positive territory stands at 5.5 billion up 187,4 million, + 3,5 % compared to the end of the 2018 financial year which had shown shareholders' equity of 5.3 billion. Investments are also on the rise which amount to 158 billion, an increase of +3,6% compared to December 2018 when they were worth 152 billion.
“The high profitability and capital solidity go hand in hand with the constant commitment of both the more than 800 people in the Division and the distribution networks in offering quality products and services to our customers, allowing them to face the current period of uncertainty with greater serenity. In both businesses, the performance in the first three months of the year was above all significant – concludes Fioravanti – in the non-motor sector, where Home and Health products grew overall by around 140% compared to 2018“, commented the head of the Insurance Division, Nicola Maria Fioravanti.
