Financial highlights
The Group closed the year 2017 with excellent results which confirm the strength of its strategy and the effectiveness of its implementation.

Key 2017 financials at a glance
FY16 | FY17 | Δ (LFL1) | |
VOLUMES |
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Gross written premiums (Euro m) | 68,907 | 68,537 | -0.2% |
of which Life | 48,400 | 47,788 | -1.0% |
of which P&C | 20,507 | 20,749 | +1.7% |
Life Net Inflows | 11,793 | 9,718 | -17.1% |
PROFITABILITY |
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Operating results (Euro m) | 4,783 | 4,895 | +2.3% |
Operating RoE | 13.4% | 13.4% | +0.0% pts |
Net result (Euro m) | 2,081 | 2,110 | +1.4 % |
New Business Margin (PVNBP) | 2.56% | 4.01% | +1.46% pts |
Combined Ratio | 92.3% | 92.8% | +0.5% pts |
CASH & DIVIDENDS |
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Net operating cash generation (Parent view, Euro m) | 1,877 | 2,231 | +19% |
Dividend per share (Euro) | 0.80 | 0.85 | +6% |
CAPITAL |
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Shareholder's equity (Euro m) | 24,545 | 25,079 | +2.2% |
Solvency II ratio Regulatory view | 178% | 208% | +30% pts |
Solvency II ratio Internal Model view | 194% | 230% | +36% pts |
(1) Constant perimeter and exchange rates