03.08.2016

Growth across all business lines for the first half of 2016 with strong commercial development for death & disability

Crédit Agricole Assurances reports €16.8 billion of revenues[1] for the first half of 2016, up 4.6% compared with the first half of 2015.

 

 

For savings and retirement, revenues1 are up 4.0% to €13 billion, with unit-linked products[2] generating 20.2% of gross inflows.

 

Net inflows2 amounts to €3.9 billion, of which €2.4 billion for France.

 

Assets under management show year-on-year growth of 3.4%, up to €264.2 billion at end-June 2016, of which 18.8% for unit-linked policies.

 

Property & casualty revenues1 represent €2.1 billion, 5.3% higher than the first half of 2015.

Despite the weather-related events from the past few months, the combined ratio[4] remains under control at 96.6%.

 

For the death & disability, creditor and group insurance, revenues1 are up 8.7% compared with the first half of 2015 to €1.6 billion. This growth has been driven by the death & disability business, which increased by 10.0% over the same period.

 

In June this year, Crédit Agricole Assurances and Amundi announce that they are setting up an integrated commercial partnership and will now be able to offer a unique global approach for major businesses with savings, retirement and death & disability solutions for their employees.

 

At 30 June 2016, Crédit Agricole Assurances reports €650 million in half-year net income (group share), up 16.7% year-on-year excluding non-recurring items3.

The consolidated financial statements at 30 June 2016 are available on the Crédit Agricole Assurances website (www.ca-assurances.com/espace-investisseurs).

 

The Standard & Poor’s rating is A- / outlook stable.

 

 

 

 

 

[1] IFRS revenues broken down for each new business line with individual health and personal accident cover transferred from the “death & disability/health/creditor” business to “property & casualty ”

[2] Under French standards

[3] Cash balance of €62 million net of tax paid in the first quarter of 2015 linked to early repayment of subordinated debt to Crédit Agricole S.A.

[4] Ratio (claims + operating expenses + commissions) / premiums, net of reinsurance. Scope: Pacifica


 

Crédit Agricole Assurances, Europe's leading bank insurer, unites together Crédit Agricole's insurance subsidiaries. The Group offers a range of savings, retirement, health, personal risk and property insurance products and services. They are distributed by the Crédit Agricole Group's banks in France and in 10 other countries around the world by financial advisors and multi-line insurance agents. The Crédit Agricole Assurances companies serve individuals, professionals, farmers and businesses. Crédit Agricole Assurances has 4,000 staff, with €30.4 billion in revenues (IFRS standards) at end-2015.

www.ca-assurances.com