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

VOLUMES
	FY16	FY17	Δ (LFL¹)
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
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	2.56%	4.01%	+1.46% pts
Combined Ratio	92.3%	92.8%	-0.5% pts
CASH & DIVIDENDS
Net operating cash generation (Parent view, Euro m)	1,877	2,231	+19%
Dividend per share (Euro)	0.80	0.85	+6%
CAPITAL
Shareholder's equity	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