VidaCaixa, the insurance subsidiary of the CaixaBank group, has for the first time exceeded 125,000 million euros in assets under management in the first quarter, with an increase of 8.6% compared to a year ago, of which 7,606 million were contributed by its Portuguese subsidiary, BPI Vida e Pensões.
As explained by the company led by Javier Valle in a statement, in the period the firm has obtained a consolidated net profit of 298 million euros, 8% higher than last year, driven by the growth of assets and the increase in profits. savings insurance.
Premiums and contributions to pension plans reached 3,821 million euros in the quarter, 1.7% more than in the same period in 2023. Life annuities and guaranteed savings insurance have been the most notable products, with premiums of 2,336 million euros. The insurer increased its customer base by 4.3%, to 6.6 million.
Until March, VidaCaixa has paid 1,461 million euros in benefits to more than 700,000 clients, 85% people over 65 years of age. Of the total benefits paid, 446 million euros have been paid in the form of annuity, allowing recipients to receive a complement to their retirement pension.
Due to the importance of this group of seniors among its policyholders, VidaCaixa has established a commission of independent experts who will advise the company on their needs and opportunities to improve their quality of life. This body will analyze developments and trends in active aging, care, neurodegenerative diseases and other possible improvements applicable to the products and services offered by the company.
The commission will be made up of Javier Yanguas, a psychologist who is an expert in vulnerable groups and older people; Pedro Cano, director of strategy, planning and organization of the Parc Taulí Health Corporation Consortium of Sabadell; Pilar Cañabate, doctor responsible for the social care area of ACE Alzheimer Center Barcelona, and Jesús Rodrigo, director of the Spanish Alzheimer's Confederation (CEAFA) and president of the Ibero-American Alzheimer Federation (AIB).
