The SBU’s EBIT for the year was solid, even though down slightly compared with the previous year, reflecting a similar trend in revenue. The Solvency Ratio of 267% at the end of the year confirms the solvency of the insurance Group.

2020 of the sector


External revenue1,6691,643(26)-1.6%
Revenue from other sectors111n.s.
Total revenue1,6701,644(25)-1.5%
Costs vs other sectors499523+25+4.9%
Total costs664656(8)-1.1%
EBIT Margin %60.2%60.1%
NET PROFIT737784+47+6.4%

n.s.: not significant

Main KPIs20192020CHANGES
Net technical provisions Poste Vita Group (€bn)140.2153.713.59.6%
Solvency Ratio276%267%
Life business20192020CHANGES
Gross premium revenue – Life (€m)*17,73216,661(1,071)-6.0%
of which: Classes I-IV-V15,79314,661(1,132)-7.2%
of which: Class III1,9392,000613.1%
Incidence of Multi-class premiums on total35%34%
Unrealized capital gains/(losses) (€bn)11.617.96.455.2%
Lapse Rate2.8%2.5%
P&C business20192020CHANGES
Gross premium revenue – P&C (€m)*240.2239.6(1)-0.3%
Loss ratio**32.7%48.0%
Expenses ratio (ANIA)***28.9%28.0%
Combined ratio (ANIA)****61.6%76.0%

* Includes gross premium revenue before the premium reserve, outward reinsurance premiums and intra-group portions.
** Corresponds to the ratio of the expenses from claim liquidation and gross premiums.
*** Corresponds to the ratio of operating costs + commission and gross premium revenue.
**** Equal to the sum of the Loss and Expenses ratio.


ROAD TO 2024

“2024 Sustain & Innovate” Strategy

Market-leading insurance company with comprehensive
and sustainable product portfolio

  • Life products at the heart of the group’s investment offering
  • Profitable growth in the non-life market
  • Full integration of ESG principles and reduction of under- insurance in Italy
The Company’s new product, Poste Nuovi Progetti Futuri, has been developed: a multi-class policy that provides access to the opportunities offered by financial markets through a gradual approach
Implemented the new product Poste Progetti Futuri Dinamica: the multi-class policy to seize the opportunities offered by the markets in a gradual way dedicated to Affluent customers
Extended to all subscribers of a health policy the per diem and reimbursement of medical expenses for hospitalisation for Covid-19
Implemented the new Postefuturo Investimenti product, Poste Italiane’s offer for investing savings online
Marketing of the Poste Guidare Sicuri offer, which completes the Group’s P&C insurance offer with the launch of a “Motor” product