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Economic highlights

Group highlights | Life segment | Non-life segment | Financial segment | Financial highlights  | Social and environmental highlights

 

Group Highlights
(€ million) 31.12.2011 31.12.2010 Fourth quarter
2011		 Fourth quarter
2010
Gross written premiums(**) 69,159.2 73,187.8 17,832.3 19,358.5
Change on equivalent terms (*) -5.5%  
 -7.6%  
Total expense ratio 16.6% 15.3% 17.7% 15.3%
Change on equivalent terms (*) 1.3  
 2.3  
Consolidated operating result(***) 3,927.6 4,076.6 827.2 943.9
Change on equivalent terms (*) -3.7%
-12.4%
Result of the period 856.1 1,701.9 31.0 389.2
Change on equivalent terms (*) -49.7%
-92.0%

(*)On equivalent terms: on equivalent exchange rates and consolidation area compared to the same period of the previous financial year.

(**)Taking into account premiums related to investment contracts.

(***) Net of holding expenses and consolidation adjustments.

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Life Segment
(€ million) 31.12.2011 31.12.2010 Fourth quarter
2011		 Fourth quarter
2010
Gross life written premiums(**) 46,393.8 51,098.1 12,008.9 13,826.1
Change on equivalent terms (*) -9.3%  
 -13.0%  
Net cash inflows 5,845.5 16,133.0 -650.7 3,511.3
Change on equivalent terms (*) -64.0%  
 -118.3%  
NBV 975.7 1,050.1 n.a. n.a.
Change on equivalent terms (*) -5.6%  
 n.a.  
APE 4,787.4 5,332.6 1,277.7 1,491.8
Change on equivalent terms (*) -9.0%  
 -12.8%  
Expense ratio - life segment 11.6% 10.4% 12.6% 10.4%
Change on equivalent terms (*) 1.2  
 2.1  
Operating result - life segment 2,541.7 3,025.9 563.6 724.1
Change on equivalent terms (*) -16.0%  
 -0.2%  

(*) On equivalent terms: on equivalent exchange rates and consolidation area compared to the same period of the previous financial year. (**) Taking into account premiums related to investment contracts.

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Non-life segment
(€ million)
 31.12.2011 31.12.2010 Fourth quarter
 2011		 Fourth quarter
2010
Gross non-life written premiums 22,765.4 22,089.7 5,823.4 5,532.4
Change on equivalent terms (*) 3.2%  
 6.1%  
Combined ratio non-life segment 96.5% 98.8% 96.4% 99.0%
Change on equivalent terms (*) -2.3  
 -2.5  
 Expense ratio - non-life segment 27.6% 27.5% 28.8% 28.2%
Change on equivalent terms (*) 0.1  
 0.6  
Loss ratio non-life segment 69.0% 71.3% 67.6% 70.8%
Change on equivalent terms (*) -2.3  
 -3.1  
Operating result - non-life segment 1,560.5 1,128.1 356.6 245.8
Change on equivalent terms (*) 38.3%
0.5%  

(*) On equivalent terms: on equivalent exchange rates and consolidation area compared to the same period of the previous financial year.

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Financial segment
 (€ million)
 31.12.2011 31.12.2010 4Q 2011 4Q 2010
Asset under management 88.207,2 92.980,1 n.a. n.a.
Change on equivalent terms (*) 3,4%  
 n.a.  
Cost income ratio 73,2% 70,5% 79,9% 74,1%
Change on equivalent terms (*) 2,7  
 0,1  
Operating result - financial segment 341,7 353,6 62,8 76,5
Change on equivalent terms (*) -3,3%  
 -0,2%  

(*) On equivalent terms: on equivalent exchange rates and consolidation area compared to the same period of the previous financial year. 

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Financial highlights
(€ million) 31.12.2011 30.09.2011 31.12.2010
Investments 369,126.3 372,273.5 372,155.1
Insurance provisions (*) 347,167.3 346,759.7 343,583.7
Shareholder's equity attributable to the Group 15,485.6 15,846.4 17,489.8
Solvency I ratio 117% 118% 132%

(*) Taking into account financial liabilities related to policies of the life segment.

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Social and enviromental highlights
(€ million) 31.12.2011 31.12.2010 Change
Global Added Value 12,737.2 13,632.7 -6.6%
Number of employees 81,997.0 85,368.0 -3.9%
Allocation to community-benefit initiatives 49.1 45.5 7.9%
Per capita electrical energy consumption 4,830.7 5,191.6 -7.0%
Paper consumption 71,313.8 71,287.9 0.0%
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