Paris, 20 March 2007
2006 attributable recurring profit up a strong 23%
Value of new business up 30%
Summary
CNP Assurances is releasing today its 2006 balance sheet and results. In a very good year for the French life insurance industry, buoyed by robust financial markets, the Group turned in a highly satisfactory performance. Attributable net profit rose by 18% during the year. A better measure of the Group’s fundamentals, attributable recurring profit increased by more than 23%. European embedded value grew by 14% to €69.85 per share before dividends and the value of new business rose by 30% to €300 million.
Key figures
- Consolidated premium income: €31,989.5 million, up 20.6% on a reported basis and 19.5% pro forma at constant exchange rates.
- EBIT: €1,594 million, up 20.8%.
- Recurring profit attributable to equity holders of the parent: €948 million, up 23.2% compared with 2005 pro forma profit. Attributable net profit: €1,145 million, up 18%.
- Insurance and financial liabilities at 31 December 2006, excluding deferred participation: €217.5 billion, up 10%.
- Estimated European embedded value per share before dividends: up 13.9% to €69.85 (based on CFO Forum principles).
- Value of new business: up 29.9% to €300 million, including €74 million contributed by international subsidiaries, up 51%.