In 2024 Insurance external revenues were up 4.7% y/y to €1.6bn (€414m in Q4-24, -2.5% y/y). Life Investments & Pension revenues at €1.5bn, up 3.3% y/y (€386m in Q4-24, +0.8% y/y), with CSM release of €1.5bn in FY-24, +13.5% y/y, (€411m in Q4-24, +25.0%). FY-24 positive Life Investments & Pension net inflows of €1.5bn (€0.8bn in Q4-24), supported by newly launched products, with a lapse rate of 6.6% (6.4% in Q4-24), outperforming market levels. FY-24 Protection revenues at €161m up 19.7% y/y (€28m in Q4-24, -32.7% y/y), supported by higher volumes. Total Protection gross written premiums were at €1.0bn in FY-24, +23.0% y/y (€243m in Q4-24, +26.7% y/y).
At the end of December 2024, the Contractual Service Margin amounted to €13.7bn, higher than the level recorded at the end of September 2024 and providing strong visibility on the division’s sustainable profitability going forward. Poste Vita Group’s Solvency II Ratio stood at 334% at year-end 2024, well ahead of the managerial ambition of around 200% through the cycle. FY-24 Segment Adjusted EBIT at €1.4bn, up 5.0% y/y (€358m Q4-24, -4.5% y/y), supported by both Life Investments and Protection.
2025 Financial Targets
- Segment Revenues: €1.7bn (2024: €1.6bn) thanks to resilient Life Investment & Pension and fast growing Protection business (exceeding 10% of total revenues in 2025), while preserving profitability.
- Adjusted EBIT: €1.5bn (2024: €1.4bn).
- Net Profit: €1.0bn (2024: €1.0bn) in line with Plan projections.
