Highlights in 2017
In 2017, CNP Assurances was very active on many different fronts, across Europe and in Brazil, pursuing a raft of innovations, partnerships, challenges and commitments.
Italy
Together for seven years
CNP Assurances and UniCredit have extended their partnership via CNP UniCredit Vita.
Covering its 1,365 branches and UniCredit outlets in central and southern Italy, Sardinia and Sicily, the new agreement provides for the creation of a sales and marketing hub to drive expansion in unit-linked savings, term creditor insurance and individual
protection insurance.
Agile
Youse’s challenge
The 100%-digital Brazilian insurance platform of our Caixa Seguradora subsidiary has gained more than 110,000 customers since it was launched in late 2016 and sold around 900 policies per day in early 2018. It has achieved its goal of disrupting the insurance market in Brazil.
23 years
Brazil: talks continue
In 2018, CNP Assurances and Caixa Seguridade continued to negotiate the terms of a new and exclusive distribution agreement in Brazil beyond 2021. It covers personal risk, term creditor insurance, consumer finance and pensions. The new deal will run until 2041, providing long-term visibility for a large portion of the business conducted through the Caixa Econômica Federal network.
Acceleration
Spain : €30 million for iSalud
CNP Partners, the Spanish subsidiary of CNP Assurances, has acquired a majority shareholding in iSalud, a leading digital distributor of individual health insurance and Spain’s number 1 price comparison site in the sector.
The aim of the deal is to accelerate penetration of the Spanish market by harnessing the expertise and start-up vision of this leading insurtech company.
Savings
Dynamic alternative
The Croissance 80-12 years vehicle, with its guarantee covering 80% of net capital invested and a 12-year maturity, was designed and I managed by CNP Assurances and is marketed by La Banque Postale. It launched in early 2017, and inflows totalled over €158 million by the end of the year.
This success demonstrates the appeal of this solution as a means of diversifying savings in the current interest rate environment while still contributing to the financing of the real economy.
Pensions
New offering for civil servants
Préfon, the leader in supplementary pensions for the public sector with 400,000 members, and CNP Assurances, have joined forces to help civil servants take care of their health and prepare for and enjoy their retirement.
They can now access both partners’ products and services to help them in their daily lives via the Préfon Lyfe digital and phone platform.
A –
Arial CNP Assurances rated A– with a stable outlook
In the eighteen months since its inception, the joint venture with the AG2R La Mondiale group has grown to become the number 2 supplementary pension group with close to €15 billion under management. In late 2017, Standard & Poor’s gave it its initial rating of A– with a stable outlook, confirming the quality of its business model and its positioning.
Non-salaried workers and SME executives
Integrated approach
Malakoff Médéric and CNP Assurances sealed a distribution and reinsurance agreement covering non-salaried workers and SME executives. It will draw on CNP Assurances’ Amétis network with its 220 advisers across France and offer Malakoff Médéric’s customers an integrated approach to personal and asset protection.
+18 %
Term creditor insurance performs well
This revenue growth against the backdrop of brisk lending to individuals flowed primarily from the ramp-up in group term creditor insurance at the BPCE Group. It demonstrates the benefits of the new partnership agreement focused on protection and expanded to group term creditor insurance for all BPCE networks - Caisses d’Epargne, Banques Populaires and Crédit Foncier.
Personal risk
Digital with the Azimut insurtech
CNP Assurances established a majority shareholding in Azimut, a digital insurance broker specialised in protection. It will draw on the start-up’s entrepreneurship and disruptive capabilities, and its unique ability to bring together digital technology, value-added data processing and people-focused expertise.
Wealth management
Plaudits for innovation
Flexi G won the Oscar innovation prize at the 33rd edition of the Oscar wealth management awards. Launched in early 2018 by CNP Patrimoine, this new vehicle enables its partners (private banks, IFAs, family offices and asset management companies) to offer their customers dynamic management of the unit-linked portion plus protection of their capital.
CNP Assurances stated its wish to share the award with all its partners, including BPE, which was the first to offer this option.
100% online
And people-oriented, too
EasyBourse, La Banque Postale’s online broker, and CNP Assurances launched the appropriately named EasyVie, life insurance policy in early 2018.
The new policy, managed online right through from subscription to redemption, has a choice of two investment approaches, a minimum initial investment of €1,000 and an attractive price.
EasyBourse advisers also provide support and guidance six days a week.
Unit-linked
With Caisses d’Epargne
In 2017, 36 permanent or temporary unit-linked additions were made to the unit-linked offering for the Caisses d’Epargne network. The targets set were exceeded owing to the network’s strong performance on the back of the Défi UC programme. The proportion of inflows directed into unit-linked vehicles almost doubled to 32.65% and stood at 15.66% of outstandings at year-end 2017.
Health education
For and by young people
72 young people doing civic service at Unis-Cité volunteered for night-time rounds and to provide assistance at festivals and student parties to promote responsible partying. As a Unis-Cité partner, the CNP Assurances Foundation is jointly funding the programme in 10 French cities.
€5 billion
to be invested by 2021
CNP Assurances has announced further investments in the energy and environmental transition and raised its target for the 2021 carbon footprint of its equity portfolio from a 30% reduction to a 47% reduction on its 2014 level.
Leading by example
Gender balance accolade
At the launch of the Zimmermann index, CNP Assurances claimed the top gender balance prize in the category of businesses with up to 10,000 employees. The plaudit reflected CNP Assurances’ long-term commitment and its visible effects. 50% of its executives are women, 35% of the Group’s top 100 are women and its governance bodies have achieved near-parity.
Human Capital
Transformation attentive to needs
The way we go about our work on a daily basis is undergoing radical changes with the acceleration in the digital transition, the changing face of business and a constantly shifting regulatory environment. The Dialog programme puts employees right at the centre of our business.
Agreements have followed in areas ranging from strategic workforce planning to the quality of work life. Thanks to this people-centric policy, CNP Assurances was presented with the gold award at the 2017 VLCH ceremony recognising leadership in human capital.
Its training policy won the silver award.
CSR
Number 1 insurer in the 2017 Oekom Research rankings
Its committed HR policy, universal access to insurance and a general strategy of responsible investment covering over 80% of its assets put CNP Assurances in first place in the CSR rankings of insurers in industrialised countries conducted by the Oekom Research rating agency.
4,400 young first-aiders trained
Under the “Young people have a heart” programme, 4,400 Paris schoolchildren were given first-aid training in how to deal with cardiac arrest and how to use a defibrillator.
The CNP Assurances Foundation supported the initiative.
BOX
100 m2 pop-up promoting health equality
In early 2018, a Health Ideas Box was rolled out to serve disadvantaged communities in Boulogne-sur-Mer. Four containers on wheels can be set up to create a 100 m2 pop-up information area in which young people can find out about tools, places and organisations that can help them stay fit and healthy.
The CNP Assurances Foundation and Bibliothèques sans frontières provided support for this initiative.