Insurance segment revenues were up 13.4% to €430m in Q2-24 (€827m in H1-24, +7.1% y/y). Life Investments & Pension revenues to €378m, up 8.1% (€740m in H1-24, +2.4% y/y), with higher CSM release (€356m in Q2-24, +6.4% y/y and up to €693m, +7.0% in H1-24).
In H1-24 positive Life Investments & Pension net inflows of €0.3bn were recorded, with a lapse rate of 6.4%, outperforming a challenging market environment.
Q2-24 Protection revenues at €52m up 76.8% y/y (€86m in H1-24, +77.3% y/y), supported by higher volumes and improving combined ratio.
Total Protection gross written premiums were at €235m in Q2-24, +21.2% y/y (€547m in H1-24, +25.8% y/y).
At the end of June 2024, the Contractual Service Margin amounted to €13.5bn, after the release of €693m in the half, providing strong visibility on the division’s sustainable profitability going forward.
At the end of June 2024, Poste Vita Group’s Solvency II Ratio stood at 297%, well ahead the managerial ambition of above 200% through the cycle.
Segment Adjusted EBIT to €378m in Q2-24, up 14.6% y/y (€727m in H1-24, +9.5% y/y).
