STATEMENT OF PROFIT OR LOSS OF THE INSURANCE SERVICES STRATEGIC BUSINESS UNIT

(€m)1H 20191H 2018Increase/ (Decrease)
Revenue 796 685 110 16.1%
Upfront Life 194 193 0 0.1%
Net investment result Life 484 452 32 7.1%
Technical margin Life 23 10 13 126.9%
Change in other technical provisions and other technical costs/income 18 (33) 51 153.0%
Net Life revenue 718 622 96 15.5%
Premium revenue 108 82 27 32.9%
Change in technical provisions and claims expenses (28) (21) (8) -36.6%
Result from reinsurance (9) (4) (5) -148.8%
Net P&C income (*) 0 0 0 82.8%
Net P&C revenue 72 58 14 24.5%
Other operating income 6 5 1 13.2%
Intersegment revenue 0 1 (1) -68.7%
Costs 330 317 13 4.0%
of which:        
Total personnel expenses 20 20 1 3.2%
of which personnel expenses 20 19 1 6.1%
of which early retirement incentives 0 1 (1) -100.0%
of which disputes and other extraordinary items 0 0 0 -
Other operating costs 43 41 2 4.3%
Intersegment costs 267 256 10 4.0%
of which fees 252 237 16 6.7%
EBITDA 466 368 98 26.5%
Depreciation, amortisation and impairments 11 8 4 44.1%
EBIT 454 360 94 26.1%
EBIT margin 57.1% 52.6%    
Finance income/(costs) 12 29 (17) -58.8%
Profit before tax 466 390 77 19.7%
Income tax expense 141 138 3 2.1%
Net profit 325 251 74 29.4%