Insurance Services segment profit or loss
Six months ended 30 June | ||||
---|---|---|---|---|
(€m) | 2018 | 2017 | Increase/(decrease) | |
Upfront Life | 193 | 228 | (35) | -15.4% |
Net investment result Life | 452 | 437 | 15 | 3.4% |
Technical margin Life | 10 | 12 | (2) | -16.7% |
Change in other technical provisions and other technical costs/income | (33) | (27) | (6) | 22.2% |
Net Life revenue | 622 | 650 | (28) | -4.3% |
Premium revenue | 82 | 65 | 17 | 26.2% |
Change in technical provisions and claims expenses (*) | (21) | (19) | (2) | 10.5% |
Result from reinsurance | (4) | (3) | (1) | n/s |
Net Non-life income (**) | - | (1) | 1 | n/s |
Net Non-life revenue | 57 | 42 | 15 | 35.7% |
Other operating income | 6 | 6 | - | n/s |
Total revenue | 685 | 698 | (13) | -1.9% |
Personnel expenses | 20 | 18 | 2 | 11.1% |
of which personnel expenses | 19 | 18 | 1 | 5.6% |
of which early retirement incentives | 1 | - | 1 | n/s |
Other operating costs | 41 | 45 | (4) | -8.9% |
Depreciation, amortisation and impairments | 8 | 9 | (1) | -11.1% |
Intersegment costs | 256 | 276 | (20) | -7.2% |
of which fees | 237 | 257 | (20) | -7.8% |
Total costs | 325 | 348 | (23) | -6.6% |
EBIT | 360 | 350 | 10 | 2.9% |
EBIT MARGIN | 52.6% | 50.1% | 2.4% | |
Finance income/(costs) | 29 | 17 | 12 | 70.6% |
Profit/(Loss) before tax | 389 | 367 | 22 | 6.0% |
Income tax expense | 138 | 134 | 4 | 3.0% |
Profit for the period | 251 | 233 | 18 | 7.7% |
n/s: not significant
(*) This item does not include allocation of the attributable share of personnel expenses and the cost of goods and services incurred in the management and payment of claims.
(**) Includes finance income from investments by the Non-life business and other income and expenses from insurance activities.