Paris, 7 November 2008
Third Quarter 2008 Quarterly Information
Premium income totals €20.9 billion as trend holds steady
Average insurance and financial liabilities up by around 5.5%
(Paris – 7 November 2008) - CNP Assurances, the leading personal insurer in France, with operations in the rest of Europe and in South America, has announced its premium income figures for the first nine months of 2008.
Highlights
- Gross new money for the first nine months totalled €20.9 billion (down 16.5% over the first nine months of 2007 compared to 16.8% in the first half), as the trend held steady.
- Third-quarter gross new money in France was down by a more modest 12.6%.
- Premium income in Brazil rose 35.9% under French GAAP.
- Payouts rose 8.5% – excluding the effect of Fourgous transfers – an increase that was less than the 9% average growth for the French market as a whole.
- Net new money was strongly positive at €5 billion in France.
- Personal risk and pensions business showed significant growth.
- Average insurance and financial liabilities increased by around 5.5%.
Gilles Benoist, Chief Executive Officer, said:
"CNP turned in a robust operating performance in a very volatile environment. Sales of pension and personal risk contracts showed satisfactory growth, net new money was strongly positive, and insurance and financial liabilities – our main growth driver – continued to increase significantly."