We operate in the insurance business through PosteVita, a leading life insurance company in Italy, now active in the casualty insurance segment. Poste Vita additionally offers investment and savings products, promoted through our distribution platform.
- Life Insurance. Poste Vita, established in 1999, leads the Italian life insurance market by size and prestige. It ranks number-one as an individual insurer and number-three as an insurance group in the Italian life insurance market, as well as number-three as an insurance group in the overall market (life and casualty insurance) in Italy.
- Casualty Insurance. Through Poste Assicura, a subsidiary of Poste Vita established in 2010, we offer various lines of insurance, including Accident and Health, Third-Party and General Liability, Fire, Other Property Loss, Assistance, Legal Protection and Financial Loss. Recently we have launched initiatives aimed at meeting the new needs expressed by our customers in the areas of protection, welfare and healthcare by offering increasingly modular health and prevention products. Casualty insurance is a business we are aiming to grow. Total direct Italian premiums in the P&C insurance market, thus including policies sold by Italian and overseas undertakings, based on the available official data (source: ANIA) at the end of the third quarter of 2020, amounted to €26.5 billion, slightly down (-2.8%) compared to the same period in 2019, confirming the downward trend that began in March and attributable exclusively to the emergency situation linked to the spread of the Covid-19 virus that has heavily impacted the sales processes and operations of insurance companies.
| FY 2020 Total Revenues from Insurance Services (€m) | 1,643 |
|---|---|
| Life | 1,500 |
| P&C | 143 |
Data source: Annual Report 2020
