INSURANCE SERVICES PROFIT OR LOSS

(€m)Q1 2019Q1 2018Increase /(decrease)
Upfront Life 114 117 (3) -2.9%
Net investment result Life 204 198 7 3.4%
Technical margin Life 10 2 8 410.4%
Change in other technical provisions and other technical costs/income (28) (22) (5) 23.3%
Net Life revenue 300 294 6 2.0%
Premium revenue 54 38 15 39.8%
Change in technical provisions and claims expenses (14) (8) (7) -86.9%
Result from reinsurance (4) (4) (0) -3.7%
Net P&C income (*) (1) (0) (1) 261.8%
Net P&C revenue 35 27 8 30.2%
Other operating income 3 3 0 5.0%
Intersegment revenue 0 0 (0) -22.1%
Total revenue 338 324 14 4.3%
Personnel expenses 10 10 0 4.3%
of which personnel expenses 10 10 0 4.3%
of which early retirement incentives - - - n/s
of which disputes and other extraordinary items - - - n/s
Other operating costs 23 22 1 5.8%
Depreciation, amortisation and impairments 6 4 2 46.4%
Intersegment costs 148 145 3 2.3%
of which fees 142 136 5 3.9%
Total costs 187 180 7 3.8%
EBIT 151 144 7 4.9%
EBIT MARGIN 44.7% 44.4% 0.3%
Finance income/(costs) 0 12 (12) -95.9%
Profit/(Loss) before tax 151 156 (5) -3.0%
Income tax expense 46 61 (15) -24.3%
Net profit 105 95 10 10.7%

(*) Includes finance income from investments by the P& C business and other income and expenses from insurance activities.