CNP Assurances, the leading personal insurer in France with operations in the rest of Europe and in South America, has announced its quarterly indicators for the first nine months of 2011

Highlights
 

• EBIT up on year earlier period:
  • Improvement in business in the third quarter. Revenue performance in France in line with the market (down 11%), international revenue up 3.2%.
  • Positive net new money in the third quarter.
  • EBIT up 9.1%, lifted by steady growth in technical reserves and ongoing tight control of administrative expenses.
• Market impacts absorbed in the first nine months:
  • Total impairment losses on equities and bonds recognised during the period: €226 million net of policyholder participation and tax, of which €44 million on Greek sovereign debt written down by 50% at 30 September across all maturities.
• Group’s financial strength unchanged, with the solvency capital requirement covered 1.51 times including unrealised gains and 1.12 times by equity and quasi-equity alone.