Investor Presentation - CNP Assurances Corporate Bond Portfolio and SCR Coverage Ratio
CNP
assurances
France: higher earnings and ongoing shift towards unit-linked
products
Personal Risk/Protection
Premium income
(€m)
4,105
-3.7%
EBIT
Change
(€m)
vs 2021
+4.2%
-0.3%
4,092
4,656
4,769
+2.4%
2,170
2,262
11,228
10,386
-7.5%
2021
2022
Unit-linked Savings/Pensions
Traditional Savings/Pensions
2021
2022
•
Shift in product mix in favour of unit-linked products: unit-linked weighting in France up 2.2 pts. The €4.0bn worth of PACTE transfers, which are
not recognised in premium income, drove a 15-pt improvement in the unit-linked weighting at the time of transfer
EBIT rose by 4.2%, reflecting the favourable effect of higher interest rates (providing scope to release funds from interest-related reserves), and
controlled 5.4% growth in administrative costs in an inflationary environment
Investor Presentation
March 23 20View entire presentation