Life segment operating result and non operating result
| (€ million) | 31/12/2018 | 31/12/2017 | Change |
|---|---|---|---|
| Life segment operating result | 3,067 | 2,982 | 2.8% |
| Net premiums | 43,807 | 41,627 | 5.2% |
| Net insurance benefits and claims | -39,264 | -48,138 | -18.4% |
| of which change in the provisions for unit and index-linked policies | 2,172 | -8,247 | n.s. |
| Acquisition and administration costs | -4,484 | -4,433 | 1.2% |
| Acquisition and administration costs related to insurance business | -4,484 | -4,433 | 1.2% |
| Other acquisition and administration costs | -1 | 0 | n.s. |
| Net fee and commission income and net income from financial service activities | 16 | 42 | -62.4% |
| Net operating income from financial instruments at fair value through profit or loss | -6,115 | 3,813 | n.s. |
| of which net income from financial assets and liabilities related to unit and index-linked policies | -5,834 | 3,849 | n.s. |
| Net operating income from other financial instruments | 8,756 | 9,794 | -10.6% |
| Interest income and other income | 9,284 | 9,372 | -0.9% |
| Net operating realized gains on other financial instruments and land and buildings (investment properties) | 1,220 | 1,558 | -21.7% |
| Net operating impairment losses on other financial instruments and land and buildings (investment properties) | -817 | -266 | n.s. |
| Interest expense on liabilities linked to operating activities | -174 | -184 | -5.7% |
| Other expenses from other financial instruments and land and buildings (investment properties) | -757 | -685 | 10.4% |
| Net other operating expenses (*) | 351 | 278 | 26.3% |
| Life segment non-operating result | -437 | -309 | 41.5% |
| Net non-operating income from other financial instruments | -272 | -113 | n.s. |
| Net non-operating realized gains on other financial instruments and land and buildings (investment properties) | 7 | 5 | n.s. |
| Net non-operating impairment losses on other financial instruments and land and buildings (investment properties) | -279 | -118 | n.s. |
| Net other non-operating expenses | -165 | -196 | -15.6% |
| Life segment earnings before taxes | 2,630 | 2,674 | -1.6% |
(*) At 31 December 2018 the amount is net of operating taxes for € 52 million and of non-recurring taxes shared with the policyholders in Germany for € -6 million (at 31 December 2017 for € 52 million and € 42 million, respectively).
Life segment indicators by country
| (€ million) | Gross written premium | Net cash inflows | PVNBP | |||
|---|---|---|---|---|---|---|
| 31/12/2018 | 31/12/2017 | 31/12/2018 | 31/12/2017 | 31/12/2018 | 31/12/2017 | |
| Italy | 18,332 | 17,299 | 4,769 | 5,703 | 18,443 | 19,116 |
| France | 9,558 | 9,279 | 1,571 | 959 | 9,568 | 9,306 |
| Germany | 9,821 | 9,399 | 3,197 | 2,966 | 8,048 | 8,529 |
| Austria, CEE & Russia | 2,611 | 2,565 | 312 | 327 | 2,028 | 1,994 |
| International | 5,729 | 5,271 | 1,519 | 922 | 5,116 | 6,484 |
| Spain | 861 | 936 | -86 | -232 | 904 | 993 |
| Switzerland | 1,009 | 1,073 | 397 | 457 | 385 | 402 |
| Americas and Southern Europe | 359 | 419 | 162 | 151 | 229 | 364 |
| Asia | 2,685 | 2,155 | 981 | 494 | 2,047 | 2,001 |
| Europ Assistance | 0 | 0 | 0 | 0 | - | - |
| Other | 815 | 637 | 66 | 52 | 1,551 | 2,724 |
| Group Holding and other companies | 35 | 19 | 1 | 0 | - | - |
| Total | 46,084 | 43,832 | 11,369 | 10,877 | 43,202 | 45,429 |
| (€ million) | Operating result | NBV | ||
|---|---|---|---|---|
| 31/12/2018 | 31/12/2017 | 31/12/2018 | 31/12/2017 | |
| Italy | 1,284 | 1,246 | 978 | 903 |
| France | 585 | 607 | 219 | 211 |
| Germany | 424 | 420 | 228 | 243 |
| Austria, CEE & Russia | 306 | 291 | 143 | 147 |
| International | 497 | 540 | 310 | 317 |
| Spain | 131 | 131 | 118 | 98 |
| Switzerland | 213 | 199 | 17 | 15 |
| Americas and Southern Europe | 24 | 43 | 1 | 8 |
| Asia | 127 | 78 | 123 | 140 |
| Other | 2 | 89 | 51 | 57 |
| Group holding and other companies (*) | -30 | -121 | 0 | 0 |
| Total | 3,067 | 2,982 | 1,877 | 1,820 |
(*) The data relating to Operating result also include country adjustments.
Life segment direct premiums by line of business and by country
| (€ million) | Savings and Pension | Protection | Unit/index linked | Total | ||||
|---|---|---|---|---|---|---|---|---|
| 31/12/2018 | 31/12/2017 | 31/12/2018 | 31/12/2017 | 31/12/2018 | 31/12/2017 | 31/12/2018 | 31/12/2017 | |
| Italy | 14,259 | 13,181 | 312 | 264 | 3,760 | 3,854 | 18,332 | 17,299 |
| France | 4,347 | 4,291 | 1,959 | 1,867 | 2,841 | 2,696 | 9,147 | 8,854 |
| Germany | 2,230 | 2,219 | 3,903 | 3,690 | 3,687 | 3,490 | 9,821 | 9,399 |
| Austria, CEE & Russia | 1,206 | 1,216 | 772 | 704 | 633 | 645 | 2,611 | 2,565 |
| International | 2,373 | 2,241 | 1,660 | 1,397 | 1,026 | 1,089 | 5,059 | 4,728 |
| Spain | 529 | 656 | 237 | 223 | 95 | 58 | 861 | 936 |
| Switzerland | 190 | 203 | 131 | 139 | 688 | 730 | 1,008 | 1,073 |
| Americas and Southern Europe | 81 | 82 | 273 | 332 | 5 | 5 | 359 | 418 |
| Asia | 1,573 | 1,301 | 910 | 608 | 189 | 247 | 2,671 | 2,155 |
| Europ Assistance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other | 0 | 0 | 109 | 95 | 50 | 50 | 159 | 146 |
| Group holding and other companies | 3 | 3 | 9 | 9 | 0 | 0 | 11 | 11 |
| Total | 24,418 | 23,151 | 8,614 | 7,929 | 11,948 | 11,776 | 44,981 | 42,855 |