01/16/2001
The Mediolanum Group discloses the FY 2000 Preliminary Results
Total Assets Under Administration +39%
Mutual Funds and Managed Accounts Inflows Gross +21%, NET +346%
Gross Premiums Written +25%
Recurring Premiums +65%
Bank Direct and Indirect Inflows +76%
Networks 6,379 Agents (+44%)
In 2000 the Mediolanum Group recorded a
39% expansion in
total assets under administration, over the preceding year, from Lire 25,107 billion (Euro 12,967 million) to approximately Lire
34,500 billion (Euro 17,818 million). Assets under Administration of the subsidiary Fibanc are included.
The Mediolanum Group´s results have been very positive in all of the business sectors in which they operate.
Mutual Funds and Managed Accounts posted consolidated gross inflows of approximately Lire
6,340 billion (Euro 3,274 million), versus Lire 5,228 billion (Euro 2,700 million) of last year, a
21% increase. Among these, Lire
293 billion (Euro 151 million) refer to initial payments of Instalment Plans. Net inflows (Lire
2,186 billion, equal to Euro 1,129 million), on the other hand, grew by more than threefold (+
346%) over 1999 (Lire 490 billion, equal to Euro 253 million).
Mutual Funds and Managed Accounts consolidated assets reached almost Lire 16,900 billion (Euro 8,728 million), a
18% increase over last year (Lire 14,288 billion, equal to Euro 7,379 million).
In 2000 premium income from
Life Insurance policies amounted to over Lire
2,900 billion (Euro 1,498 million) versus Lire 2,380 billion posted in 1999 (Euro 1,229 million), a
25% increase. The increase in New Recurring Premiums has been particularly positive (+
65%): Lire
265 billion (Euro 137 million) over Lire 161 billion (Euro 83 million) of the previous year. Life reserves expanded to more than Lire
11,800 billion (Euro 6,094 million), versus Lire 10,339 billion (Euro 5,340 million) posted in 1999, a
14% increase.
It should be noted that the total volume of
New Instalment Plans (Mutual Funds and Life) reached Lire
558 billion (Euro 288 million).
Banca Mediolanum´s direct inflows and assets under administration stand at Lire
6,340 billion (Euro 3,274 million) versus Lire 3,592 billion (Euro 1,855 million) posted last year, a
76% increase, and there are presently more than
219,000 current accounts (+
52%) versus 144,000 of 1999.
The
distribution networks of the Mediolanum Group now number
6,379 agents, a
44% increase that can be split as follows:
5,181 Banca Mediolanum´s advisors (+39% over last year) among which 2,988 licensed financial advisors, and 1,198 insurance agents of Partner Time (+71%).
Fibanc, the Spanish subsidiary acquired in July 2000 with a share recently brought to 70%, reached at the end of 2000 total assets under administration of approximately Lire
4,060 billion (Euro 2,096 million).
Milan, January 16, 2001
Last update: January 16, 2001 - 15:00
