servizi assicurativi

Segment Revenues: €1.9bn (€1.6bn in 2023) with robust growth across all lines and a 2023-28 segment CAGR of 4%:

      • Life Investment & Pensions: €1.6bn (€1.4bn in 2023), with positive and stable net inflows.
      • Protection: €0.3bn (€0.1bn in 2023), with GWP growth driven by increasing demand and low customer penetration.
      • EBIT: €1.6bn (€1.4bn in 2023) reflecting revenue trend and taking into account a higher proportion of rebates to the financial services segment in Life Investment & Pensions, with Protection profitability supported by further grow in the retail business and very limited exposure to NatCat risks.
      • Net Income: €1.1bn (€1.0bn in 2023) and a 2% annualized growth rate.

    2028 Operational Objectives

    • Life Investments & Pension technical provisions: over €180bn (€157bn in 2023), with margins rising from 105bp in 2023 to more than 110bp in 2028.
    • Share of insurance investment products art. 8 SFDR compliant: 100% by the end of 2024.
    • Protection GWP: not lower than €1.5bn (€0.8bn in 2023), leveraging on increasing demand and low customer penetration.
    • Solvency II ratio: from 2023 level of 307% to more than 200% on the plan horizon, providing a substantial buffer to cushion any market volatility.

    In Insurance Services, Poste Italiane will capitalize on the sustained demand for personal insurance products, which is expected to continue. This demand is driven by progressive ageing and changing lifestyles trends and under penetration of the Italian market compared to other developed ones.

    The Life Investment & Pension business – including all insurance-based investment and pension products distributed through Poste Italiane’s captive distribution channel – is expected to continue its steady growth path, outperforming the market and strengthening its leadership position.

    Protection business – comprising all P&C and life-protection products is expected to double gross written premiums by 2028, driven by increasing demand and low volatility.

    Starting from a strong capital position, the management ambition of a Poste Vita Group’s Solvency II Ratio above 200% through the cycle is confirmed, keeping under control its volatility.