Net profit of €987 million, up 3.4%
Highlights
- Premium income of €25.9 billion, up 5.4% (up 5.7% like-for-like1), including 23.1% growth in Latin America
- Proportion of Savings/Pensions premiums represented by unit-linked contracts still high, at 40.7%
- Term Creditor Insurance premiums up 6.1%, with all host regions and the Group’s main partners contributing to growth
- EBIT of €2,279 million, up 5.1% (up 5.8% like-for-like)
- Attributable net profit of €987 million, up 3.4% (up 3.6% like-for-like)
- Consolidated SCR coverage ratio of 161% after taking into account the advance recognition of the payment due under the new distribution agreement in Brazil
Antoine Lissowski, CNP Assurances’ Chief Executive Officer, said: “CNP Assurances’ results and financial position confirm that the change in the business model in France and Europe is paying off by reducing the Group’s sensitivity to falling interest rates. In the current persistently low and even negative interest rate environment, the Group is geared up to offer effective long-term protection solutions to its partners and customers.”