Life segment operating result
(€ million) | 31/12/2017 | 31/12/2016 | Change |
---|---|---|---|
Life segment operating and non operating result | 3,141 | 3,084 | 1.8% |
Net premiums | 44,943 | 45,498 | -1.2% |
Net insurance benefits and claims | -52,945 | -50,954 | 3.9% |
of which change in the provisions for unit and index-linked policies | -8,557 | -3,406 | n.s. |
Acquisition and administration costs | -4,756 | -4,749 | 0.1% |
Acquisition and administration costs related to insurance business(*) | -4,756 | -4,749 | 0.1% |
Other acquisition and administration costs | 0 | -3 | n.s. |
Net fee and commission income and net income from financial service activities | 74 | 67 | 10.8% |
Net operating income from financial instruments at fair value through profit or loss | 4,266 | 2,070 | n.m. |
of which net income from financial assets and liabilities related to unit and index-linked policies | 4,107 | 1,707 | n.m. |
Net operating income from other financial instruments | 11,355 | 10,848 | 4.7% |
Interest income and other income | 10,625 | 10,800 | -1.6% |
Net operating realized gains on other financial instruments and land and buildings (investment properties) | 1,946 | 1,668 | 16.7% |
Net operating impairment losses on other financial instruments and land and buildings (investment properties) | -251 | -706 | -64.5% |
Interest expense on liabilities linked to operating activities | -188 | -164 | 14.5% |
Other expenses from other financial instruments and land and buildings (investment properties) | -777 | -751 | 3.5% |
Net other operating expenses(**) | 202 | 303 | -33.4% |
Life segment non-operating result | -299 | -460 | -34.9% |
Net non-operating income from other financial instruments | -93 | -244 | -61.9% |
Net non-operating realized gains on other financial instruments and land and buildings (investment properties)(***) | 26 | 3 | n.m. |
Net non-operating impairment losses on other financial instruments and land and buildings (investment properties)(***) | -118 | -246 | -51.9% |
Net other non-operating expenses | -206 | -216 | -4.5% |
Life segment earnings before taxes | 2,841 | 2,625 | 8.3% |
(*) Commissions related to investments contracts, which amounted to € -99 million (€ -74 million at 31 December 2016), are included in net fee and commission income and net income from financial service activities.
(**) At 31 December 2017 the amount is net of operating taxes for € 52 million and of non-recurring taxes shared with the policyholders in Germany for € -54 million (at 31 December 2016 respectively for € 64 million and € 79 million).
Life segment indicators by country
(€ million) | Gross written premium | Net cash inflows | PVNBP | |||
---|---|---|---|---|---|---|
31/12/2017 | 31/12/2016 | 31/12/2017 | 31/12/2016 | 31/12/2017 | 31/12/2016 | |
Italy | 17,299 | 17,911 | 5,703 | 7,197 | 19,116 | 19,758 |
France | 9,279 | 8,405 | 959 | 438 | 9,306 | 8,482 |
Germany | 12,297 | 12,576 | 1,784 | 1,560 | 8,529 | 9,447 |
Central Eastern Europe | 1,454 | 1,448 | 434 | 501 | 881 | 865 |
International | 7,440 | 8,037 | 838 | 2,102 | 7,598 | 8,053 |
EMEA | 4,356 | 4,698 | 185 | 664 | 5,283 | 5,717 |
Spain | 936 | 1,041 | -232 | -68 | 993 | 1,090 |
Austria | 1,111 | 1,127 | -107 | -256 | 1,113 | 1,163 |
Switzerland | 1,073 | 1,122 | 457 | 481 | 402 | 650 |
Other EMEA | 1,236 | 1,408 | 67 | 508 | 2,774 | 2,814 |
Americas | 292 | 272 | 121 | 114 | 256 | 269 |
Asia | 2,155 | 2,380 | 494 | 1,256 | 2,001 | 1,988 |
Europ Assistance | 0 | 0 | 0 | 0 | - | - |
Other | 637 | 687 | 37 | 67 | 58 | 79 |
Group Holding and other companies | 19 | 23 | 0 | -5 | - | - |
Total | 47,788 | 48,400 | 9,718 | 11,793 | 45,529 | 46,605 |
Life segment direct premiums by line of business and by country
(€ million) | Savings and Pension | Protection | Unit/index linked | Total | ||||
---|---|---|---|---|---|---|---|---|
31/12/2017 | 31/12/2016 | 31/12/2017 | 31/12/2016 | 31/12/2017 | 31/12/2016 | 31/12/2017 | 31/12/2016 | |
Italy | 13,181 | 15,232 | 264 | 230 | 3,854 | 2,450 | 17,299 | 17,911 |
France | 4,291 | 4,400 | 1,867 | 1,759 | 2,696 | 1,773 | 8,854 | 7,931 |
Germany | 3,951 | 4,392 | 4,326 | 4,191 | 4,020 | 3,993 | 12,297 | 12,576 |
Central Eastern Europe | 695 | 705 | 335 | 335 | 425 | 409 | 1,454 | 1,448 |
International | 3,065 | 3,921 | 1,851 | 1,524 | 1,975 | 1,991 | 6,891 | 7,436 |
EMEA | 1,738 | 2,018 | 885 | 861 | 1,728 | 1,814 | 4,351 | 4,693 |
Spain | 656 | 801 | 223 | 215 | 58 | 25 | 936 | 1,041 |
Austria | 522 | 541 | 369 | 352 | 221 | 234 | 1,111 | 1,127 |
Switzerland | 203 | 217 | 139 | 146 | 730 | 759 | 1,073 | 1,122 |
Other EMEA | 357 | 459 | 154 | 147 | 719 | 797 | 1,231 | 1,403 |
Americas | 27 | 33 | 263 | 236 | 0 | 0 | 290 | 269 |
Asia | 1,301 | 1,799 | 608 | 403 | 247 | 177 | 2,155 | 2,380 |
Europ Assistance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other | 0 | 71 | 95 | 24 | 0 | 0 | 95 | 95 |
Group holding and other companies | 3 | 3 | 9 | 8 | 0 | 0 | 11 | 11 |
Total direct written premiums | 25,186 | 28,651 | 8,651 | 8,046 | 12,970 | 10,616 | 46,807 | 47,313 |
(€ million) | Operating Result | NBV | ||
---|---|---|---|---|
31/12/2017 | 31/12/2016 | 31/12/2017 | 31/12/2016 | |
Italy | 1,246 | 1,305 | 903 | 579 |
France | 607 | 593 | 211 | 28 |
Germany | 526 | 457 | 243 | 273 |
Central Eastern Europe | 229 | 249 | 97 | 78 |
International | 659 | 645 | 367 | 235 |
EMEA | 447 | 426 | 218 | 181 |
Spain | 131 | 129 | 98 | 60 |
Austria | 62 | 65 | 50 | 28 |
Switzerland | 199 | 165 | 15 | 50 |
Other EMEA | 55 | 67 | 56 | 42 |
Americas | 42 | 50 | 4 | - |
Asia | 78 | 69 | 140 | 46 |
Other | 92 | 100 | 5 | 8 |
Group Holding and other companies | -126 | -163 | - | - |
Total | 3,141 | 3,084 | 1,820 | 1,193 |