Philippe Dumont, CEO of Crédit Agricole Assurances: “Despite a complex economic environment, Crédit Agricole Assurances posted solid Q3 financial results with good performances of our priority business lines. These good results illustrate the solidity and the relevance of our universal bancassurance model. This third quarter have been marked by the presentation of our 2025 strategic plan, which will support the development of our core businesses in France and abroad, as well as diversify our offers and services to cover all our clients needs, especially on health and retirement”.
In a fancy financial and monetary context, the precedence business traces of Crédit Agricole Assurances recorded good performances: development in turnover on the protection of assets and individuals (+6% in comparison with September 2021, +8% at fixed scope), good resilience of Unit-linked internet inflows (+€4.4 billion for the reason that begining of 2022). Over the primary 9 months of 2022, Crédit Agricole Assurances generated income of €27.2 billion.
In Property and Casualty, exercise stays dynamic with premium earnings up +7.7%1 in comparison with the top of September 2021, to succeed in €4.3 billion, with a major enhance of +22.6 % in Italy. At the top of September 2022, the quantity of P&C contracts stood at almost 15.2 million contracts, up +3.5%1 over one 12 months, with a internet contribution over the primary 9 months of the 12 months of almost 445,000 contracts.
Equipment charges2 of retail prospects in French Regional Banks is secure (42.6%2 on the finish of September 2022, -0.1 pt year-on-year), rising at LCL (27.1%2 September 2022, +0.6 pt year-on-year), and at CA Italia (20.6%3 on the finish of September 2022, +1.8 pts year-on-year).
The mixed ratio4 stood at 98.7% on the finish of September 2022, marked by a number of main climatic occasions in France in the primary 9 months of the 12 months.
In Death & incapacity, Creditor, and Group insurance, premium earnings stood at €3.7 billion on the finish of September 2022, up +7.7%1 year-on-year, in France and overseas. Creditor insurance exercise stays supported by a good actual property market (+8%). Group insurance posted robust development of +16% in turnover.
In Savings/ Retirement, gross influx reached €19.1 billion on the finish of September 2022. In France, it amounted to €15.4 billion, secure in comparison with September 2021 (-1.4%). Gross unit-linked inflows remained excessive at €7.7 billion, with a UL charge of 40.1%. Total internet inflows amounted to +€3.2 billion, with unit-linked internet inflows at +€4.4 billion.
Life insurance outstandings amounted to €318 billion5 on the finish of September 2022, together with €78.9 billion in unit-linked, and €239.2 billion of Euro-denominated. Unit-linked merchandise outstandings represented 24.8% of whole outstandings on the finish of September 2022.
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HIGHLIGHTS
Crédit Agricole Assurances presents its strategic plan for 2025
Through this venture Crédit Agricole Assurances, dedicated for a few years as an insurer, investor and accountable firm, intends to pursue the event of its core companies in France and internationally, and to diversify its affords and providers to cowl the all of the wants of its prospects, in explicit on well being and retirement.
The continued growth of the core companies of Crédit Agricole Assurances relies on 5 pillars:
- Accelerate on the protection of property and folks
- Develop new accountable and accessible financial savings options
- Intensify our common bank-insurer mannequin for companies
- Develop our actions internationally
- Become the main digital insurer
The diversification of affords and providers of Crédit Agricole Assurances to cowl all of the wants of its prospects, in explicit for well being and retirement, relies on 4 pillars:
- Adopt a worldwide and service-based method to well being insurance
- Set up a whole supply for seniors and retirement
- Place societal and environmental points on the coronary heart of our affords and our mannequin
- Respond to the long-term challenges of French society as a significant participant in Crédit Agricole Santé et Territoire
Net Zero Asset Owner Alliance: Crédit Agricole Assurances goes additional in its dedication to a low-carbon economy
Fully in conserving with the Crédit Agricole Group’s local weather motion commitments, we’re pursuing our efforts for a low-carbon economy at Crédit Agricole Assurances by investing in the vitality transition.
At Crédit Agricole Assurances, we’re dedicated to reaching the next quantified
goals:
– decreasing the carbon footprint of our listed fairness and company bond funding portfolio by 25%.
– rising our funding in renewable sources of vitality in order to play an element in finally bringing on line 14GW in manufacturing capability, increased than the ten.5GW introduced in 2021, and equating to the common annual vitality consumption of 5 million French households.
– partaking in a dialogue with not less than 20 of the largest emitters in our portfolio.
F2i acquires wind farms in Northern Spain with Crédit Agricole Assurances and the ability distribution firm EVM from the Villar Mir group
F2i, Italy’s main infrastructure fund, and Crédit Agricole Assurances have signed an settlement to accumulate from the Villar Mir Group wind farms in operation (53 Megawatts of capability) and wind tasks at a complicated stage of growth (430 Megawatts of capability), positioned in Northern Spain. F2i, via Fund V – Fondo per le Infrastrutture Sostenibili, will purchase 60% of the wind energy portfolio and the remaining 40% will likely be held by Credit Agricole Assurances, F2i’s current companion in the EF Solare Italia Group. The vendor Villar Mir is a historic Spanish conglomerate working in 31 nations in the true property, metalworking, energy technology and building sectors.
About Crédit Agricole Assurances
Crédit Agricole Assurances, France’s largest insurance Group, unites collectively Crédit Agricole’s insurance subsidiaries. The Group affords a variety of financial savings, retirement, well being, private protection and property insurance merchandise and providers. They are distributed by the Crédit Agricole’s banks in France and in eight different nations around the globe by monetary advisers and multi-line insurance brokers. The Crédit Agricole Assurances firms serve individuals, professionals, farmers and companies. Crédit Agricole Assurances has 5,300 workers. Its premium earnings on the finish of 2021 amounted to €36.5 billion (IFRS).
www.ca-assurances.com
| Press contacts Françoise Bololanik + 33 (0)1 57 72 46 83 / 06 25 13 73 98 Nicolas Leviaux +33(0)157 72 09 50 / 06 19 60 48 53 [email protected]
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Investor Relations contacts Marie-Isabelle Marcellesi + 33 (0)1 57 72 12 84 Victoire-Emmanuelle Prud’homme +33 (0)1 43 23 90 66 Valentin Lecomte +33 (0)1 43 23 59 76 [email protected] |
1 Constant perimeter
2 Percentage of prospects having not less than one contract in automotive, multi-risk family, healthcare, authorized, all mobiles or accident insurance.
3 Percentage of CA Italia’s prospects having not less than one contract marketed by CA Assicurazioni, non-life insurance subsidiary of Crédit Agricole Assurances
4 Ratio of (claims + working bills + commissions) to premium earnings, internet of reinsurance, Pacifica scope
5 Savings, retirement and dying and incapacity
