T-Vida S.A., is insurance ESFG’s subsidiary which focuses on life insurance. The life insurance was established in 2006 following the deconsolidation of the group’s insurance business and the sale of assets to BES. 2008 premiums rose to EUR 394.3 million (including products classified under IFRS4 and IAS39) and included EUR 300.0 million resulting from an extraordinary capitalisation operation placed by BES. Premiums relating to pension products (PPRs) also made a significant contribution of EUR 51.0 million. The life insurance business reported an increase in its client base of 8.0% in 2008.