May 16, 2013
Net insurance revenue: €549m (up 13.3%)
EBIT: €523m (up 15.0%)
Attributable net profit: €230m (down 16.3%)
Revenue under IFRS: €7,124m (up 1.4%)
CNP Assurances, the leading personal insurer in
with operations in the rest of
, has announced its quarterly indicators for the first three months of 2013.These indicators were approved for publication by the Board of Directors at its meeting on
15 May 2013
- Net insurance revenue up by a strong 13.3%, led by operations in both France and Latin America and reflecting a favourable basis of comparison.
- EBIT up 15.0%, thanks in particular to tight control over administrative expenses (up 0.5%).
- Attributable net profit down 16.3%, to €230 million, due to lower realised gains on equities and estimated impairment of goodwill in Cyprus.
- Revenue under IFRS up 1.4% to €7,124 million.
Frédéric Lavenir, CNP Assurances's Chief Executive Officer, said:
"Our good operating performance attests to CNP Assurances's robust business model. We will pursue our initiatives to improve the product mix and continue to grow our Latin American operations."
- Quarterly indicators for the three months ended 31 March 2013
for the period amounted to €7.5 billion, up 2.7% on first-quarter 2012.
Net new money was a positive €190 million.
On an IFRS basis and at current exchange rates, revenue was up 1.4% at €7.1 billion.
, revenue decreased by 7.8% under IFRS and 7.1% under French GAAP.
In Savings, virtually all of this decline was attributable to traditional savings products.