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CNP Assurances: 2012 Results

PARIS, February 22, 2013 /PRNewswire/ --

Positive Life and Pensions net new money in France (€145m)

Net insurance revenue: €3,167m, up 1.2%

Attributable net profit: €951m, up 9.1%

Solvency margin at a high 298.2% including unrealised gains

Recommended dividend of €0.77 per share

CNP Assurances, the leading personal insurer in France, with operations in the rest of Europe and in Latin America, has announced its 2012 revenue and results. These indicators were approved for publication by the Board of Directors at its meeting on 21 February 2013.

  • Positive net new money (€145 million) in a narrower French Life and Pensions market (€3.4 billion net outflow)
  • Net insurance revenue up 1.2%:
    • France: down 6.5% (but up 8.6% excluding the impact of non-recurring technical factors)
    • Latin America: up 11.3% as reported and 18.9% at constant exchange rates, reflecting sustained momentum
    • Europe excluding France: up 1.4%
  • Cost/income ratio stable at 36.7%
  • EBIT up 1.6% to €2,278 million
  • Attributable net profit up 9.1% to €951 million
  • MCEV ®   at €21.6 per share, up 17.5%.
  • Solvency I [ 1 ] : 298.2% (112.2% excluding unrealised gains)
  • Solvency II [ 1] : 170%

------------------------------------------ 1. CNP Assurances estimate

Frédéric Lavenir, CNP Assurances's Chief Executive Officer, said:

"CNP Assurances has reported a solid set of results for 2012, reflecting a resilient revenue performance in France and sustained growth momentum in Brazil.

"The Group has ended the year stronger and well equipped to leverage its business's growth potential in Europe and Latin America."


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