Investor Presentation - CNP Assurances Corporate Bond Portfolio and SCR Coverage Ratio
Strong increase in reinvestment rates in 2022
with €37bn invested
Investment flows in 2022¹
(%)
2% 1%
4%
2%
2.2%
Average
reinvestment
rate (vs 0.8% in
2021)
Bonds
Private debt
Yield to maturity at
purchase, in %
3,0
2,5
2,0
T
T
Bond investment flows in 2022¹
Financials (N)
Corporates ex financials (N)
1,5
1,0
Corporates ex financials (N-1)
0,5
T
91%
Property and infrastructure
Equities
Private equity
0,0
О 2 4
6
•
More measured investment in infrastructure assets and real estate
•
Reduced equity exposure, with profit-taking in Q1 and investment of the proceeds in bonds
€16bn worth of disposals to drive faster growth in portfolio yields
CNP
1. CNP Assurances SA only
assurances
Sovereign (N)
Financials (N-1)
Sovereign (N-1)
8 10 12 14 16 18 20 22 24 26 28 30 32
Average maturity (years)
Unaudited management reporting data
Investor Presentation
March 23
|
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