Q1-25 Insurance segment revenues were up 11.3% to €442m.
Life Investments & Pension revenues at €400m in Q1-25, up 10.2%, driven by a higher CSM release (€367m in Q1-25 compared to €337m in Q1-24) and risk adjustment release.
Q1-25 positive Life Investments & Pension net inflows supported by newly launched products with more attractive yields, with a lapse rate of 8.6% reflecting proactive client portfolio rebalancing activities made by BancoPosta, with around 40% of lapses reinvested into new Life insurance products.
Q1-25 Protection revenues grew 21.8% y/y to €42m, supported by higher volumes and profitability.
Total Gross Written Premiums were at €6.3bn in Q1-25, up 26.3% y/y.
At the end of March 2025, the Contractual Service Margin amounted to €13.6bn providing strong visibility on the division’s sustainable profitability going forward.
At the end of March 2025, Poste Vita Group’s Solvency II Ratio stood at 305%, above the managerial ambition of around 200% through the cycle.
Segment Adjusted EBIT at €378m in Q1-25, up 8.6% y/y supported by both Life Investments and Pension and Protection.
