Paris, 9 November 2016
Attributable net profit for the period of €886 million, up 1.3% (7.0% like-for-like)
CNP Assurances, which operates in Europe and in Latin America, has announced its financial indicators for the first nine months of 2016. These indicators were approved for publication by the Board of Directors at its meeting on 8 November 2016.
HIGHLIGHTS
- Premium income of €24.3 billion, up 3.2% (5.8% like-for-like(1))
- Further improvement in the product mix across all regions, as evidenced by the €2.3 billion net inflow(2) to unit-linked products and the symmetrical €1.4 billion net outflow from traditional savings products. The shift in business focus is also illustrated by the 8.7% increase in unitlinked technical reserves over the period and the 0.2% decline in technical reserves for other products
- EBIT of €1,878 million, up 6.5% (14.0% like-for-like)
- Attributable net profit of €886 million, up 1.3% (7.0% like-for-like)
- Group SCR coverage ratio(3) of 160% at 30 September 2016
Frédéric Lavenir, CNP Assurances' Chief Executive Officer, said:
"Our financial indicators for the first nine months attest to CNP Assurances' strong business dynamic. This is attributable to the efforts made by the company to adapt to the current environment of persistently low interest rates and prepare for changes in the insurance market.."