This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CNP Assurances: 2012 Results

These performances drove further growth in average technical reserves to €292 billion, an increase of 2.2%.

 

2. 2012 Results

                                                          % change
                                        2012      2011   (reported)
    (in EUR millions)
                     Revenue (IFRS)   26,460    30,005      - 11.8
    Average technical reserves
    excl. deferred participation     292,423   286,156        +2.2
              Net insurance revenue    3,167     3,129       + 1.2
    - Administrative expenses           (889)     (886)      + 0.4
                               EBIT    2,278     2,243       + 1.6
    - Finance costs                     (157)     (150)      + 4.9
    - Income tax expense                (744)     (720)      + 3.3
    - Minority interests                (310)     (264)     + 17.5
    Recurring profit before capital
                   gains and losses    1,067     1,109       - 3.8
    Net gains on equities, property
    and AFS, CNP UniCredit Vita
    goodwill impairment, fair value
    adjustments                          155     (236)         n.m.
    Non-recurring items                 (271)       (1)        n.m.
         Net profit attributable to
       equity holders of the parent      951       872       + 9.1

Net insurance revenue grew by 1.2% in 2012 to €3,167 million.

Total net insurance revenue generated in France was down 6.5% due to non-recurring technical factors, notably the impact of a reduction in regulatory valuation rates of interest. Excluding these non-recurring factors, the year-on-year change was an increase of 8.6%, reflecting higher average technical reserves, improved loss ratios and more favourable financial market conditions.

Net insurance revenue from International operations rose 8.9%, lifted by growth in Brazil where volumes and margins continued to trend upwards.    

Administrative expenses were broadly stable, rising by just 0.4%. The cost/income ratio was also flat at 36.7%.

Consolidated EBIT rose 1.6% to €2,278 million, with France contributing 57.1% of the total and Brazil 35.2%.

A dividend of €0.77 per share will be recommended at the Annual General Meeting, with a scrip option. The signatories of the shareholders' agreement have stated that they intend to exercise this option.

Firm financial markets led to a €156 million net positive contribution, taking into account a €170 million impairment loss recognised on CNP UniCredit Vita goodwill.

3 of 9

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,985.61 +78.99 0.47%
S&P 500 1,972.83 +9.12 0.46%
NASDAQ 4,419.0340 +27.5710 0.63%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs