Property & Casualty segment operating and non-operating result
| (€ million) | 31/12/2018 | 31/12/2017 | Change |
|---|---|---|---|
| Property & Casualty segment operating result | 1,992 | 1,944 | 2.5% |
| Net earned premiums | 19,597 | 19,510 | 0.4% |
| Net insurance benefits and claims | -12,768 | -12,716 | 0.4% |
| Acquisition and administration costs | -5,472 | -5,421 | 0.9% |
| Acquisition and administration costs related to insurance business | -5,468 | -5,419 | 0.9% |
| Other acquisition and administration costs | -5 | -3 | 80.1% |
| Fee and commission income and income from financial service activities | 0 | 0 | n.s. |
| Net operating income from financial instruments at fair value through profit or loss | 84 | 85 | -1.6% |
| Net operating income from other financial instruments | 863 | 858 | -0.6% |
| Interest income and other income | 1,146 | 1,124 | 2.0% |
| Interest expense on liabilities linked to operating activities | -64 | -64 | 0.5% |
| Other expenses from other financial instruments and land and buildings (investment properties) | -218 | -202 | 8.1% |
| Net other operating expenses | -313 | -372 | -15.9% |
| Property & Casualty segment non-operating result | -202 | -34 | n.s. |
| Net non-operating income from financial instruments at fair value through profit or loss | 7 | 11 | n.s. |
| Net non-operating income from other financial instruments | 0 | 155 | -100.3% |
| Net realized gains on other financial instruments and land and buildings (investment properties) | 172 | 290 | -40.9% |
| Net impairment losses on other financial instruments and land and buildings (investment properties) | -172 | -135 | 27.2% |
| Net other non-operating expenses | -209 | -200 | 4.8% |
| Property & Casualty segment earnings before taxes | 1,789 | 1,910 | -6.3% |
Property & Casualty segment indicators by country
| (€ million) | Gross written premiums | Operating result | ||
|---|---|---|---|---|
| 31/12/2018 | 31/12/2017 | 31/12/2018 | 31/12/2017 | |
| Italy | 5,450 | 5,537 | 595 | 651 |
| France | 2,706 | 2,626 | 121 | 155 |
| Germany | 3,757 | 3,708 | 445 | 351 |
| Austria, CEE & Russia | 3,818 | 3,626 | 482 | 460 |
| International | 4,810 | 4,989 | 394 | 287 |
| Spain | 1,517 | 1,490 | 165 | 162 |
| Swizerland | 687 | 744 | 68 | 70 |
| Americas and Southern Europe | 1,067 | 1,438 | 80 | 47 |
| Asia | 210 | 204 | -11 | -7 |
| Europ Assistance | 834 | 753 | 95 | 100 |
| Other | 495 | 360 | -3 | -85 |
| Group holding and other companies (*) | 67 | 63 | -45 | 40 |
| Total | 20,607 | 20,548 | 1,992 | 1,944 |
(*) The data relating to Operating result also include country adjustments.
Technical indicators by country
| (€ million) | Combined ratio(*) | Loss ratio | Expense ratio | |||
|---|---|---|---|---|---|---|
| 31/12/2018 | 31/12/2017 | 31/12/2018 | 31/12/2017 | 31/12/2018 | 31/12/2017 | |
| Italy | 91.0% | 90.0% | 65.0% | 65.2% | 25.9% | 24.8% |
| France | 99.9% | 98.4% | 72.2% | 70.8% | 27.7% | 27.6% |
| Germany | 92.7% | 92.6% | 65.3% | 65.1% | 27.4% | 27.5% |
| Austria. CEE & Russia | 88.1% | 89.1% | 58.3% | 59.6% | 29.8% | 29.5% |
| International | 95.6% | 97.9% | 66.2% | 68.0% | 29.4% | 29.9% |
| Spain | 92.2% | 92.7% | 65.2% | 65.3% | 27.0% | 27.4% |
| Swizerland | 93.0% | 92.4% | 65.5% | 66.3% | 27.6% | 26.1% |
| Americas and Southern Europe | 101.6% | 103.4% | 66.2% | 66.6% | 35.4% | 36.8% |
| Asia | 104.5% | 103.8% | 70.2% | 68.4% | 34.2% | 35.4% |
| Europ Assistance | 91.4% | 89.4% | 60.9% | 60.8% | 30.5% | 28.7% |
| Other | 101.2% | 115.0% | 76.8% | 89.2% | 24.4% | 25.9% |
| Group holding and other companies | 76.5% | 52.6% | 65.8% | 42.1% | 10.7% | 10.5% |
| Total | 93.0% | 92.9% | 65.1% | 65.1% | 27.9% | 27.8% |
(*) CAT claims impacted on the Group combined ratio for 1.7 pps, of which 1.5 pps in Italy, 2.6 pps in France, 2.7 pps in France and 9.4 pps attributable to Group holding and other companies (at 31 December 2017 CAT claims impacted on the Group combined ratio for 2.1 pps, of which 1.9 pps in Italy, 1.8 pps in France and 1.7 pps in Germany and 6.4 pps in Group holding and other companies).
Property & Casualty direct written premiums by line of business and by country
| (€ million) | Motor | Non-motor | Total | |||
|---|---|---|---|---|---|---|
| 31/12/2018 | 31/12/2017 | 31/12/2018 | 31/12/2017 | 31/12/2018 | 31/12/2017 | |
| Italy | 2,051 | 2,086 | 3,281 | 3,330 | 5,332 | 5,416 |
| France | 1,009 | 968 | 1,634 | 1,591 | 2,643 | 2,559 |
| Germany | 1,491 | 1,489 | 2,255 | 2,215 | 3,746 | 3,704 |
| Austria, CEE & Russia | 1,784 | 1,678 | 1,986 | 1,900 | 3,770 | 3,579 |
| International | 1,441 | 1,760 | 2,806 | 2,754 | 4,247 | 4,515 |
| Spain | 456 | 465 | 1,016 | 986 | 1,472 | 1,451 |
| Swizerland | 271 | 291 | 416 | 451 | 687 | 742 |
| Americas and Southern Europe | 678 | 970 | 388 | 464 | 1,066 | 1,434 |
| Asia | 6 | 13 | 104 | 90 | 111 | 103 |
| Europ Assistance | 29 | 21 | 678 | 610 | 707 | 631 |
| Other | 1 | 0 | 203 | 153 | 203 | 153 |
| Group holding and other companies | 4 | 3 | 48 | 41 | 52 | 44 |
| Total | 7,780 | 7,984 | 12,009 | 11,832 | 19,790 | 19,816 |