In Q3 Insurance segment revenues were up 23.9% y/y to €500m (+8.6% y/y to €1.6bn in 9M-22).
In Q3 life revenues were also up 22.6% y/y to €460m (+7.9% y/y to €1.5bn in 9M-22), driven by increasing volumes and margins, also supported by inflation-linked bonds.
Non-life revenues rose markedly by 41.2% y/y to €40m in the third quarter of 2022 (+18.9% y/y to €116m in 9M-22). The increase resulted from both modular and welfare offer. The proposed acquisition of Net Insurance is expected to further accelerate growth projections.
Total life gross written premiums were up 7.5% y/y to €4.0bn (-4.6% y/y to €13.3bn in 9M-22).
P&C gross written premiums were up 15.8% y/y to €87m (+19.8% y/y to €286m in 9M-22).
In Q3 EBIT was up 30.2% y/y to €305m (+10.1% y/y to €980m in 9M-22), reflecting revenue trend.
At the end of September 2022, Poste Vita Group’s Solvency II Ratio stood at 207%, with transitional measures providing an additional buffer of 20 p.p. to address potential market volatility.
