10/17/2001
The Mediolanum Group discloses the First nine months 2001 Preliminary Results
New record total net inflows: 2,476 million Euro, +4%
New record life recurring premiums: 125 million Euro, +67%
Consolidated assets under administration: 18,119 million Euro, +15%
The Mediolanum Group closed the
first nine months of 2001 registering appreciable results. Considering the negativity of the market, and the extraordinary historical-political situation during the period under exam, new records of inflows were achieved, even surpassing those of 2000, which was unanimously considered one of the best years in national and international financial history.
- Consolidated Assets under Administration, despite the considerable depreciation due to the negative performance of the stock market, reached 18,119 million Euro, increasing 15% in twelve months (15,758 million Euro as at September 30, 2000). Excluding the controlled Fibanc in Spain, whose assets amounted to 1,954 million Euro, total assets grew by 3% during the period, to 16,165 million Euro.
With reference to
Italy, the volumes registered were as follows:
- Total Net Inflows, including life insurance, managed accounts and direct and indirect inflows of the bank, hit a new historic record amounting to around 2,476 million Euro surpassing by 4% the already notable net inflows of the first nine months of last year (Euro 2.384 million). In particular, net inflows consist of 1,458 million Euro from managed savings and 1,018 million Euro from administered savings.
With respect to managed savings, it is noteworthy that the Mediolanum Group is classified in first place in Italy, with 1,216 million Euro of net inflows in mutual funds in the first nine months of the year.
- Gross Life Premiums collected in total around 1,090 million Euro, compared to Euro 1,051 million in the same period in 2000 (+4%).
New Business in Recurring Premiums was particularly noteworthy, registering an increase of about 67% (125 million Euro compared to 75 million Euro in the first nine months of 2000).
- As at September 30, 2001 the Sales Network of Banca Mediolanum consisted of 5,617 global financial advisors (with an increase of 15% out of a total of 4,872 as at September 30, 2000), of whom 3,755 are licensed financial advisors. Adding the 1,255 Partner Time insurance agents (+63% in twelve months), the Sales Network of the Mediolanum Group reached a total of 6,872.
Milan, October 17, 2001
Last update: October 17, 2001 - 15:00
