Paris, 14 november 2012
Revenue: €19.4bn (down 14%)
Net insurance revenue: €2,283m (up 4%)
Recurring net profit: stable at €755m
Attributable net profit: €783m (up 42%)
Solvency capital: 2.54x required capital including unrealised gains
Further sales of peripheral euro zone sovereign debt securities
CNP Assurances, the leading personal insurer in France, with operations in the rest of Europe and in South America, has announced its revenue and results for the first nine months of 2012. These indicators were approved for publication by the Board of Directors at its meeting on 13 November 2012.
HIGHLIGHTS
- Revenue down 14.1%, reflecting declines of 18.1% in Savings and 16.8% in Pensions:
- France: down 10.4% in a market down 14.0% (like-for-like)
- International: down 24.5% due to Southern Europe.
- Net insurance revenue up 4.2%:
- France (1) down 7.9%, reflecting non-recurring factors linked to falling interest rates
- International (1) up by a healthy 12.9%
- Recurring net profit stable at €755 million. Attributable net profit up 42.3% at €783 million, supported by favourable financial market conditions
- Further reductions in peripheral euro zone sovereign debt assets:
- French portfolio's gross exposure reduced to €12.7 billion at 30 September 2012 from €19.2 billion at 31 December 2011.
(1) Excluding revenues from own funds portfolios