01/16/2002
The Mediolanum Group discloses the FY 2001 Preliminary Results
New record total net inflows: 3,422 million Euro +6%
New record life recurring premiums: 195 million Euro, +42%
Consolidated assets under administration: 21,399 million Euro, +20%
The Mediolanum Group closed
2001 with very satisfying results particularly considering the strong slow-down of the world economy.
The positive trend of the first nine months were proven out at December 12, 2001, permitting the Group to repeat record net inflows (+6%) and new business in recurring life premiums (+42%).
Consolidated Assets under Administration, despite the considerable depreciation due to the negative performance of the stock market, reached about
21,399 million Euro, increasing
20% in twelve months (17,852 million Euro as at December 31, 2000).
Excluding the assets of Banca Esperia (about 497 million Euro) and the controlled companies abroad, Fibanc (about 1,949 million Euro), and GAMAX (about 623 million Euro), total assets grew by
16% during the period to about
18,329 million Euro (15,739 as at December 31, 2000).
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, hit a new historic record amounting to about 3,422 million Euro and surpassing the already notable net inflows of last year by 6% (3,225 million Euro). Specifically, net inflows consist of about 2,045 million Euro (+1% with respect to 2,019 million Euro in 2000) from managed savings and about 1,377 million Euro (+14% with respect to 1,206 million Euro in 2000) from administered savings. Net inflows into mutual funds (funds, managed accounts and unit-linked) were positive every month of the year and amounted in total to 1,680 million Euro.
- Gross Life Premiums amounted in total to about 1,601 million Euro, compared to 1,533 million Euro in 2000 (+4%). New Business in Recurring Premiums were particularly noteworthy, registering an increase of about 42% (about 195 million Euro against 138 million Euro last year).
- Mutual Funds and Managed Accounts registered consolidated gross inflows of more than 3,116 million Euro against 3,271 million Euro of the previous year (-5%), gaining ground with respect to the decrease registered in the first nine months of last year due to the critical situation in the world markets.
- As at December 31, 2001, the Sales Network of Banca Mediolanum consisted of 5,585 global financial advisors (an increase of 8% out of a total of 5,181 as at December 31, 2000). It is worth noting the strong increase in the quality of the network of 3,842 licensed financial advisors, an increase of 27% with respect to 3,018 last year. Adding the 1,308 Partner Time insurance agents (+9% with respect to 1,198 last year), the sales network of the Mediolanum Group reached a total of 6,893 individuals.
- As at December 31, 2001, there were 297,252 bank accounts compared to 219,144 as at December 31 last year, an increase of 36%.
- As at December 31, 2001, there were about 714,000 primary account holders compared to 619,200 at the same date last year, with an increase of 15%. There were about 94,800 New Clients acquired during the period.
Milan, January 16, 2002
Last update: January 16, 2002 - 15:00
