Paris, 31 July 2017

EBIT up 15.4% at €1,477 million

Net profit up 6.0% at €657 million

HIGHLIGHTS

  • Further improvement in the product mix across all regions, as evidenced by the €2.4 billion net inflow into unit-linked savings/pensions products and the symmetrical €5.0 billion net outflow from traditional products, leading to 16.4% growth in average unit-linked technical reserves and a 1.5% dip in average other technical reserves
  • Premium income down 5.2% to €16.4 billion, due to the discontinued underwriting of new Caisses d'Epargne savings/pensions business, partly offset by the strong growth dynamic in Brazil
  • Sharp rise in the APE margin to 17.8%, reflecting an improved product mix and a more favourable economic environment
  • EBIT of €1,477 million, up 15.4% (9.1% like-for-like)
  • Attributable net profit of €657 million, up 6.0% (1.7% like-for-like)
  • Consolidated SCR coverage ratio of 193% (177% at 31 December 2016)

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

'CNP Assurances delivered a solid operating performance in the first half, helped by the gradual refocusing of technical reserves on unit-linked contracts. All regions contributed to the strong growth dynamic and the sharp rise in EBIT..'

CNP Assurances SA published this content on 31 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 July 2017 07:14:03 UTC.

Original documenthttp://www.cnp.fr/en/Journalist/All-our-press-releases/2017/First-half-results-2017

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