STATEMENT OF PROFIT OR LOSS OF THE INSURANCE SERVICES STRATEGIC BUSINESS UNIT
(€m) | 1H 2019 | 1H 2018 | Increase/ (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% |