Net income group share came to 316 ME in Q1

CNP Assurances’ premium income amounted to E9.8 billion, up 25.3% compared to Q1 2021 (+5.5% lfl). In savings/retirement, the group highlights the stability of activity in France with an improvement in the share of unit-linked (UC) sales and good momentum internationally.

In France, turnover amounted to E4.1 billion, including an increase of 17.1% on unit-linked units with a unit-linked rate of 29.7% in collection (+4.3 pts). PACTE transfers amount to €1.7 billion.
In Europe excluding France, revenue amounted to E2.6 billion (+27.5% change at constant exchange rates) due, in part, to the integration of CNP Vita Assicurazione and CNP Vita Assicura (CVA).
In Latin America, sales amounted to €1.5 billion (+€161 million LFL).
In provident/protection, Group turnover was €1.7 billion, a slight increase of 3.5%.

Gross operating income was 933 ME, up 30.6% (+24.4% LFL). Net profit attributable to the group came to 316 ME, i.e. +2.7% compared to Q1 2021 (+8 ME). The group’s margin rate on new business is 16.1%, up 0.6 pts compared to the end of 2021. The Group SCR coverage rate is 243% (+26 pts compared to the end of 2021)

Stéphane Dedeyan, Chief Executive Officer, said: “CNP Assurances’ premium income is up 25.3%. This success is due to our brand new acquisition in Italy, which is already bearing fruit. We are continuing to transformation of our outstandings with an increase in the Group’s turnover in unit-linked units of +31.5%.The completion of our capital gains program at the beginning of 2022 allows us to calmly approach the rest of the year 2022 and our rate of high solvency, at 243%, reflects our financial solidity in a context of changing macro-economic situation.”

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