Paris, 16 November 2017
Attributable net profit up 4.6% to €926 million
HIGHLIGHTS
- Strong €3.6 billion net inflow to unit-linked savings/pensions products and symmetrical €6.4 billion net outflow from traditional products, leading to a 13.8% growth in average net unit-linked technical reserves and a 1.6% dip in average net other technical reserves, reflecting a further improvement in the product mix across all regions
- Proportion of savings and pensions premiums represented by unit-linked contracts in France up to 20.4% from 15.0% in the year-earlier period
- Sharp rise in the APE margin to 19.0% (from 13.9% in 2016), reflecting an improved product mix and a more favourable economic environment
- EBIT up 13.4% (up 9.4% like-for-like) to €2,129 million
- Attributable net profit of €926 million, up 4.6% (up 1.8% like-for-like)
- Consolidated SCR coverage ratio of 199% (versus 193% at 30 June 2017)
Frédéric Lavenir, CNP Assurances' Chief Executive Officer, said:
"Our indicators for the first nine months of 2017 attest to our Group's ability to refocus the business on higher margin products and improve operational efficiency while at the same time strengthening the solvency ratio."