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At its
meeting yesterday, the Board of Directors of CNP unanimously approved the 2008-
2012 business plan which sets ambitious growth targets for 2012:
To meet
these targets, CNP Assurances aims to:
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Preserve the Group's current share of the French personal insurance
market.
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Raise profitability by engineering a shift in the product mix
towards higher margin segments
and improving operating efficiency, as measured by the cost/income
ratio.
-
Achieve strong organic growth in international markets, with the
foreign subsidiaries outperforming
dynamic local markets.
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Double the amount invested in acquisitions outside France, with an
accretive impact on earnings
per share in each case. By the end of the projection period, international
markets should
account for one-third of total premium income. The priority growth areas will
remain
South America, Southern
Europe and the Mediterranean
basin.
The plan is
realistic. It is based on the CNP Assurances business model, which is built
around powerful partner networks, effective corporate governance, recognised
financial management expertise and high quality assets – with virtually no
exposure to the US subprime market. This model has
been amply tried and tested in France as well as in international
markets. Moreover, the Group is sufficiently robust to easily withstand the
effects of an unfavourable environment, whether it results from an economic
downturn or a major upset in the financial markets.
Download the
presentation
Press
Relations
Sophie Messager
Tel : +33 (0)1 42 18 86
51
E-mail : servicepresse@cnp.fr
Investor and Analyst
Relations
Brigitte Molkhou
Tel : +33 (0)1 42 18 77
27
E-mail : infofi@cnp.fr
Disclaimer
Some of the statements contained in this press release may be
forward-looking statements referring to projections, future events, trends or
objectives which, by their very nature, involve inherent risks and
uncertainties. Actual results could differ materially from those currently
anticipated in such statements by reason of factors such as changes in general
economic conditions and conditions in the financial markets, legal or regulatory
decisions or changes, changes in the frequency and amount of insured claims,
particularly as a result of changes in mortality and morbidity rates, changes in
surrender rates, interest rates, foreign exchange rates, the competitive
environment, the policies of foreign central banks or governments, legal
proceedings, the effects of acquisitions and the integration of newly-acquired
businesses, and general factors affecting
competition.
Further information regarding factors which may cause results to
differ materially from those projected in forward looking statements is included
in CNP Assurances' filings with the Autorité des Marchés Financiers. CNP
Assurances does not undertake to update any forward-looking statements presented
herein to take into account any new information, future event or other
factors.
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