INTESA SANPAOLO VITA: INTERIM REPORT FOR JANUARY - MARCH 2013 APPROVED
Net income of 108.7 million euro (108.8 million euro in 1Q12)
Operating income of 174.1 million euro (183.5 million euro in 1Q12)
Operating costs of 16.9 million euro (20.5 million euro in 1Q12)
Income before tax from continuing operations of 157.4 million euro (161.4 million euro in 1Q12)
Mathematical reserves of 56,207 million euro (56,232 million euro in 1Q12)
Cost/income ratio at 9.7% (11.2% in 1Q12)
Milan, 6 June 2013 – The Board of Directors of Intesa Sanpaolo Vita approved the Interim Report for January - March 2013 in the presence of the Chairman, Salvatore Maccarone. Under the guidance of the Managing Director, Gianemilio Osculati, in the first quarter of 2013 Intesa Sanpaolo Vita achieved significant, solid results, essentially in line with 2012, an exceptional year in which the consolidated income increased by 268% from 2011.
In March 2013 Intesa Sanpaolo Vita had 2,191,990 customers, for a total of 2,888,137 policies. The mathematical reserves amounted to around 56,207.1 million euro, a stable figure in line with 56,232.5 million euro of the first quarter of 2012, up 0.62% on 55,857.2 million euro at the end of 2012. Excellent performance, high-level efficiency and sustainable profitability. The Sanpaolo Vita Interim Report for January - March 2013 recorded:
Operating income of 174.1 million euro.
Operating costs of 16.9 million euro, down 3.6 million euro (17.6%) compared to 31 March 2012.
Decrease in costs was also showed by the cost/income ratio: in the first quarter of 2012 the ratio was 11.2%, while in the first quarter of 2013 it fell to 9.7%.
Income before tax from continuing operations of 157.4 million euro. In line with the first quarter of 2012, net income amounted to 108.7 million euro, close to 108.8 million euro of the first quarter of 2012.
The Chairman, Salvatore Maccarone, underlined the Company’s efforts: “The guidelines that have allowed us to achieve these results are based on a strategy paying the utmost attention on strong capital base, performance, sustainable profitability and total quality products and services.”
The Managing Director, Gianemilio Osculati, is pleased with the first report of 2013: “The year has begun extremely well. Sales have reached excellent levels, our products are popular with the market, yields are high and the customer service is first-rate. The profit achieved is the direct result of these positive factors.”
Intesa Sanpaolo Media Relations
Last updated 6 June 2013 at 11:18