04/18/2001
The Mediolanum Group discloses the Q1 2000 Preliminary Results
Consolidated Assets Under Administration +30%
Total Net Inflows 1,870 billion Lira (966 million Euro)
The Mediolanum Group closed the
first quarter of 2001 showing a good performance.
Consolidated Assets under Administration, despite the negative effect due to the stock market performance, reached 35,619 billion Lira
(18,396 million Euro) against 27,489 billion Lira (14,197 million Euro) as of March 31, 2000, growing by +30% in twelve months. Excluding Fibanc, which assets amounted to 4,004 billion Lira (2,068 million Euro), Mediolanum Assets under Administration were 31,615 billion Lira
(16,328 million Euro), up +
15%.
Total Net Inflows, including life insurance, mutual funds and managed accounts, and bank direct and indirect inflows, totalled 1,870 billion Lira
(966 million Euro).
Gross Premiums Written amounted to 704 billion Lira
(364 million Euro) compared to 547 billion Lira (283 million Euro) for the same period last year
(+29%).
New production totalled 468 billion Lira
(242 million Euro) compared to 352 billion Lira (182 million Euro) in 2000, an increase of
+33%.
New Recurring Premiums amounted to 84.5 billion Lira
(44 million Euro) compared to 42.4 billion Lira (22 million Euro) in 2000, an increase of
+99%.
Mutual Funds and Managed Accounts posted gross inflows of 1,521 billion Lira
(786 million Euro), down
-31% compared to first quarter 2000 (2,197 billion Lira, or 1,135 million Euro).
Net Inflows, however, were positive at 443 billion Lira
(229 million Euro), with a decrease of
-5% (464 billion Lira, or 240 million Euro for the same period 2000).
Direct inflows from
Banca Mediolanum clients reached 645 billion Lira
(333 million Euro) showing an increase of
+83% to 352 billion Lira (182 million Euro) with respect to the same period 2000.
Total
active Bank Accounts were
242,922 as of March 31, 2001, compared to 160,654 for the same date last year, growing by
+51%.
Total
Primary Account Holders came to
659, 000 as of March 31, 2001, compared to 526,100 for the same date last year, an increase of
+25%.
About
39,800 New Clients were acquired in the first quarter 2001, compared to 31,000 in the first quarter 2000
(+28%).
As of March 31, 2001, the
Sales Network of the Mediolanum Group consisted of
6,985 agents (with an increase of
+41% on a total of 4.940 as of March 31, 2000), divided as follows:
5,388 Banca Mediolanum advisors (
+29% in twelve months) of whom 3,163 are licensed financial advisors - and
1,597 Partner Time part-time
insurance agents (
+108% in twelve months).
Milan, April 18, 2001
Last update: April 18, 2001 - 15:00
