CNP Assurances today published a presentation for investors and analysts on the implementation of IFRS 17 and IFRS 9. The publication will be followed by an online conference on 12 December 2022 at 11:00 am (CET Paris).
The Group’s financial management will present its approaches concerning, in particular, the First Time Application (FTA), which defines on 1 January 2022 the reference values of the key indicators: Contractual Service Margin (CSM), Risk Adjustment (RA) and Equity.
The implementation of these regulatory obligations will lead to a new vision of the income statement and the balance sheet and will significantly modify the Group's financial communication indicators.
To participate in the conference,
The conference will be followed by a question and answer session open to all.
Thomas Béhar, Deputy Chief Executive Officer of CNP Assurances and Group Chief Financial Officer tells :
"For the CNP Assurances group, the new, more forward-looking IFRS 17 is an opportunity: our insurance liabilities will better reflect our economic position, in line with our business model.
Our financial communication will be significantly modified, without affecting the underlying qualities of the Company's business model, its solvency and its development strategy.
A large number of CNP Assurances’ employees have been involved in the implementation of the new standards. I am proud to rely on the engagement of all the teams within the Group.”