First-Quarter 2010 Premium Income: €9.4 BillionFirst Quarter 2010 Net Profit: €280 Million
Paris – 12 May 2010
CNP Assurances, the leading personal insurer in France, with operations in the rest of Europe and in South America, has announced its premium income and net profit figures for the first quarter of 2010
First-Quarter 2010 Highlights
- €9.4 billion in premium income, of which €1.9 billion from operations outside France
- Upturn in unit-linked sales, which accounted for 10% of business in France and 16% for the Group as a whole
- Solid 7.1% growth in average technical reserves over the quarter
- Attributable net profit1 of €280 million
- Solvency capital requirement under Solvency I covered 2.16 times including unrealised gains
Gilles Benoist, Chief Executive Officer, said:
“For the first time, we are publishing quarterly profit indicators in addition to our premium income data. They attest to the strength of our model, which is focused on maintaining
margin integrity, in particular by driving a recovery in unit-linked sales in both France and other countries.”