CNP Assurances - Investor Presentation
CURRENT DISTRIBUTION AGREEMENT WITH BPCE
CNP Assurances - Investor Presentation - March 2020
The current partnership - which was due to expire in 2022 - was renewed by anticipation
for a 10-year duration starting January 1, 2020
SAVINGS/PENSIONS
► 2019 premium income: €6.1bn
•
Top-up premiums: €3.0bn
Transfers from traditional savings products: €0.4bn
Inward reinsurance: €1.7bn
▸ Technical reserves at end-2019: €120bn before
reinsurance
€109bn net of reinsurance (10% ceded to Natixis
Assurances)
▸ All new business is written by Natixis Assurances
CNP Assurances reinsures 40% business written up
in 2020 and 2021
▸ CNP Assurances continues to manage in-force
business and top-up premiums
PERSONAL RISK/PROTECTION
► 2019 premium income: €1.1bn
▸ Addendum to the existing partnership agreement
in collective term creditor insurance
• 50/50 co-insurance mechanism (vs. 66% reinsurance
share by CNP Assurances before) (1)
▸ New partnership in individual term creditor
insurance through the signing of a reinsurance treaty:
•
CNP Assurances reinsures 34% of new individual
mortgage insurance contracts contracted by BPCE
Vie from January 1, 2020 to December 31, 2030
(1) The previous distribution agreement signed in March 2015 already anticipated this change in case of a renewal. The change to a 50/50 coinsurance mechanism was put in
place in 2020 vs. 2022 because of the early renewal of the agreement.
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