Philippe Dumont, CEO of Crédit Agricole Assurance, said:Despite the complex economic environment, Crédit Agricole Assurance posted a solid performance in the third quarter, with good performance in its priority business lines. These good results demonstrate the reliability and validity of our universal his bancassurance model. This third quarter was marked by the announcement of the 2025 strategic plan. It will support the development of its core business in France and abroad, while diversifying its offerings and services to cover all client needs, especially regarding health and retirement. ” .
In a complex economic and financial situation, Crédit Agricole Assurances’ priority business units post strong results: growth in property and personal protection turnover (+6% vs. September 2021, +8% to some extent), good resilience of unit-linked net inflows (from early 2022 to +4.4 billion euros). In his first nine months of 2022, Credia Glycol Assurance made his €27.2 billion in revenue.
Compensation for damagesthe activity remains dynamic Premium income +7.7%1 Compared to the end of September 2021, 4.3 billion euros, with a significant increase of +22.6% in Italy. By the end of September 2022, the number of non-life insurance contracts will be almost 15.2 million contracts+3.5% increase1 Over a year, the net contribution for the first 9 months of the year was nearly 445,000 contracts.
Equipment fee2 of retail customers French regional bank stable (42.6%2 -0.1pt compared to the previous year as of the end of September 2022), Growing at LCL (27.1%2 September 2022, +0.6 pt YoY), CA Italy (20.6%)3 end of September 2022, up 1.8 points from the previous year).
of combined ratioFour 98.7% at the end of September 2022, characterized by several major climate events occurring in France in the first nine months of the year.
Death, disability, creditors, group insurancepremium income is 3.7 billion euros End of September 2022, +7.7% up1 Year-on-year, in France and abroad. Creditor insurance activity continues to be supported by a strong property market (+8%). Group insurance posted strong growth with sales up 16%.
of Savings/retirement allowance, total inflow reached 19.1 billion euros France reached €15.4bn, stable compared to September 2021 (-1.4%).Unit-related gross inflows remained high at €7.7bn, with UL rates 40.1%. total net inflow reached +3.2 billion eurosWhen Unit-linked net inflows of +4.4 billion euros.
Life insurance outstandings reached €318 billionFive Including the end of September 2022 €78.9 billion in unit linkEUR 239.2 billion. Unit-linked product balance represented 24.8% of total outstanding balance End of September 2022.
Crédit Agricole Assurance unveils strategic plan for 2025
Through this project, Crédit Agricole Assurances, which has worked for many years as an insurer, investor and responsible company, pursues the development of its core business in France and internationally, to cover all the needs of its customers. It is intended to diversify the offers and services. , especially about health and retirement.
The continued development of Crédit Agricole Assurance’s core business is based on five pillars.
Accelerate the protection of property and people
Develop new responsible and accessible savings solutions
Enhancing a universal bank insurance model for businesses
Developing activities internationally
Become the leading digital insurer
Crédit Agricole Assurances’ diversification of offers and services covers all the needs of its clients, especially in relation to health and retirement, and is based on four pillars:
Adopt a global, service-based approach to health insurance
Set up complete offers for seniors and retirees
Put social and environmental issues at the center of our proposals and models
Responding to the long-term challenges of French society as a key player of Crédit Agricole Sante et Territoire
Net Zero Asset Owner Alliance: Crédit Agricole Assurances furthers commitment to low-carbon economy
In full line with the Crédit Agricole Group’s commitment to combat climate change, Crédit Agricole Assurance pursues its commitment to a low-carbon economy by investing in the energy transition.
Crédit Agricole Assurance is committed to achieving the following quantifications:
– Reduce the carbon footprint of our listed equity and fixed income investment portfolio by 25%.
– Increasing investment in renewable energy sources to finally realize a production capacity of 14GW, above the 10.5GW announced in 2021, equivalent to the average annual energy consumption of 5 million French households.
– Engage in dialogue with at least 20 of the largest emitters in our portfolio.
F2i will acquire a wind farm in northern Spain together with Crédit Agricole Assurance and EVM, the distribution company of the Villars Mir Group.
F2i, Italy’s leading infrastructure fund, and Crédit Agricole Assurance have signed an agreement to acquire an operating wind farm (53 MW capacity) and an advanced-stage wind project (430 MW capacity) from Villar Mir Group. concluded. Northern Spain. F2i will acquire 60% of its wind power portfolio through Fund V-Fondo per le Infrastrutture Sostenibili, with the remaining 40% held by his existing F2i partner Credit Agricole Assurances in the EF Solare Italia Group . The seller, Villar Mir, is a historic Spanish conglomerate with operations in 31 countries in the fields of real estate, metalworking, power generation and construction.
About Crédit Agricole Assurance
Crédit Agricole Assurance, France’s largest insurance group, will consolidate the insurance subsidiaries of Crédit Agricole. The Group offers a range of savings, retirement, health, personal protection and property insurance products and services. They are marketed by the Bank of Crédit Agricole in France and financial advisors and multiline insurance agents in eight other countries around the world. Crédit Agricole Assurances companies serve individuals, professionals, farmers and businesses. Crédit Agricole Assurances has 5,300 employees. Premium income at the end of 2021 was €36.5 billion (IFRS).
1 constant perimeter
2 Percentage of customers with at least one policy in Auto, Multi-Risk Home, Healthcare, Legal, All Cell Phones, or Accident Insurance.
3 Percentage of CA Italia customers with at least one contract sold by Crédit Agricole Assurances’ property and casualty insurance subsidiary, CA Assicurazioni
Four Ratio of (claims + operating expenses + commissions) to premium income, net of reinsurance, Pacificascope
Five savings, retirement, death, disability