INSURANCE SERVICES SEGMENT PROFIT OR LOSS
For the nine months ended 30 Septembe | ||||
---|---|---|---|---|
(€m) | 2019 | 2018 | Increase/(decrease) | |
Revenue | 1,219 | 1,049 | 170 | 16.2% |
Upfront Life | 267 | 264 | 3 | 1.2% |
Net investment result Life | 786 | 707 | 79 | 11.2% |
Technical margin Life | 27 | 18 | 9 | 52.4% |
Change in other technical provisions and other technical costs/income | 23 | (37) | 60 | 162.9% |
Net Life revenue | 1,103 | 952 | 151 | 15.9% |
Premium revenue | 164 | 124 | 40 | 32.2% |
Change in technical provisions and claims expenses | (45) | (29) | (17) | -58.6% |
Result from reinsurance | (12) | (8) | (5) | -60.4% |
Net P&C income | 2 | 1 | 1 | 108.0% |
Net P&C revenue | 108 | 88 | 19 | 21.9% |
Other operating income | 8 | 8 | 0 | -0.7% |
Intersegment revenue | 0 | 1 | (1) | -75.1% |
Costs | 472 | 446 | 26 | 5.8% |
of which: | ||||
Total personnel expenses | 29 | 28 | 1 | 2.7% |
of which ordinary personnel expenses | 29 | 28 | 1 | 4.7% |
of which early retirement incentives | 0 | 1 | (1) | -100.0% |
of which disputes and other extraordinary items | 0 | 0 | 0 | - |
Other operating costs | 63 | 59 | 4 | 6.2% |
Intersegment costs | 381 | 359 | 22 | 6.0% |
of which fees | 360 | 330 | 30 | 9.1% |
EBITDA | 747 | 603 | 144 | 23.8% |
Depreciation, amortisation and impairments | 17 | 12 | 5 | 41.7% |
EBIT | 730 | 591 | 139 | 23.4% |
EBIT Margin | 59.8% | 56.3% | ||
Finance income/(costs) | 15 | 50 | (35) | -70.5% |
Profit before tax | 744 | 641 | 103 | 16.1% |
Income tax expense | 225 | 224 | 1 | 0.5% |
Net profit | 519 | 417 | 102 | 24.5% |