Consolidated Net Profit was at 77 million euro, an increase of 40% compared to the results for the same period last year. | |
Consolidated Assets under Administration, grew by 13% with respect to June 30, 2003, totalling 24,946 million euro. | |
The Sales Network of the Mediolanum Group (Italy, Spain and Germany) reached a total of 5,413 exclusive advisors , an increase of 3% with respect to June 30, 2003. |
Net Profit was at 93 million euro, a growth of 25% with respect to the results of last year. | |
Assets under Administration grew 11% with respect to June 30, 2003, totalling 20,595 million euro. | |
Net Inflows into Managed Savings, totalling 769 million euro, substantially in line with the first half of 2003 (-6%)were positive each month. The Life business made a major contribution, with net inflows of 693 million euro, a growth of 39% with respect to the same period last year. | |
Gross Premiums Written in total came to 1,147 million euro, an increase of 37% with respect to the first half of last year. New Business in Recurring Premiums (exclusively unit-linked) contributed 89 million euro, while Single Premiums added 671 million euro, +56%. | |
Mutual Funds & Managed Accounts registered Gross Inflows of 841 million euro, +2.5% with respect to the same period last year. | |
As at June 30, 2004, the Sales Network of Banca Mediolanum recorded a total of 4,858 financial advisors – in line with June 30, 2003 (4,855) – of which 4,055 were licensed. | |
There were a total of 782,000 Primary Account Holders as at June 30, 2004, an increase of 2% with respect to last year. | |
Embedded Value, calculated by Tillinghast–Towers Perrin for the Life and Funds businesses in Italy, that at this time does not take into account the value of future profits of the Bank nor of the New Ventures, registered and increase of 15%, from 1,881 million euro for the first half of 2003 to 2,166 million euro. The Value of New Business from Life and Asset Management was positive at 83 million euro, an increase of 14% with respect to the same period last year. |
SPAIN closed the quarter with a net profit of 1.4 million euro compared to breakeven for the same period last year (0.1 million euro). Assets under Administration grew by 1% with respect to June 30,2003, totalling 1,953 million euro. With reference to Embedded Value, the In–force Value for Life and for Asset Management (gross of minorities) came to 20 million euro, a growth of 25% with respect to full year 2003. The Value generated by New Business came to 4 million euro. | |
BANCA ESPERIA registered a profit of 1.8 million euro (0.9 million euro for Mediolanum’s share), against a loss of 3.3 million euro for the same period last year. Assets under Administration reached 3,709 million euro, (1,799 million euro for Mediolanum’s share), an increase of 51% with respect to June 30, 2003. |