01/16/2003
The Mediolanum Group discloses FY 2002 Preliminary Results
Total net inflows positive: 3,000 million Euro
Gross premiums written: 2,133 million Euro
Consolidated assets under administration: 20,783 million Euro
The Mediolanum Group closed
2002 with very satisfying results particularly considering the strong slow-down of the world economy.
Consolidated Assets under Administration, despite the negative trend of the stock market which depreciated by 33% during the same period, reached
20,783 million Euro, -1% (20,920 million Euro as at December 31, 2001).
The following volumes were registered with respect to
Italy:
- Total Net Inflows, including life insurance, mutual funds and managed accounts, and direct and indirect inflows of the bank, reached 3,000 million Euro, representing the second best year-end result in the history of the Mediolanum Group. Managed savings contributed significantly to this result with 1,694 million Euro, while 1,299 million came from administered savings. This year as well, net inflows into mutual funds, including those from managed accounts and unit-linked, were positive every month of the year and amounted in total to 1,183 million Euro. It is worth noting that in the two-year period 2001 and 2002, i.e. the period of major market crisis, Banca Mediolanum emerged as the number one financial institution by a wide margin in terms of net inflows into mutual funds(2,889 milion Euro).
- Gross Life Premiums amounted in total to about 2,133 million Euro, compared to 1,602 million Euro in 2001 (+33%).
New Business was particularly noteworthy, registering an increase of 38% (about 1,413 million Euro against 1,023 million Euro last year).
- Mutual Funds and Managed Accounts registered consolidated gross inflows of more than 2,246 million Euro against 3,117 million Euro for 2001.
- As at December 31, 2002, the Sales Network of Banca Mediolanum consisted of 5,015 financial advisors. It is worth noting the strong qualitative improvement of the network, with 4,114 licensed financial advisors compared to the 3,842 in 2001. This confirms the leadership position of Banca Mediolanum among the Italian sales networks of financial advisors.
Adding the 1,402 Partner Time insurance agents, the sales network of the Mediolanum Group reached a total of 6,417 individuals.
- As at December 31, 2002, there were 340,000 bank accounts compared to 297,000 as at December 31 last year, an increase of 14%.
- As at December 31, 2001, there were about 761,000 primary account holders compared to 714,700 at the same date last year, with an increase of 7%.
* These are preliminary figures and could be subject to minor variations
Milan, January 16, 2003
Download: Mediolanum Preliminary Figures Table FY 2002
Download: Net Inflows into Mutual Funds 2001-2002
Last update: 16 January 2003 -15:00
