CNP Assurances - Investor Presentation
2019 FINANCIAL AND
BUSINESS PERFORMANCE
CNP Assurances - Investor Presentation - March 2020
2019
2018
Change (reported)
Change
(like-for-like (¹))
(€m)
BUSINESS
PERFORMANCE
Premium income
33,496
32,367
+3.5%
+4.0%
VNB
543
659
-17.6%
-16.6%
APE margin
17.1%
21.3%
-4.3 pts
Total revenue
3,967
3,846
+3.1%
+4.1%
Administrative costs
926
922
+0.4%
+1.4%
EBIT
3,041
2,924
+4.0%
+5.0%
EARNINGS
Attributable recurring profit
2,244
2,171
+3.4%
+4.1%
Attributable net profit
1,412
1,367
+3.3%
+4.0%
ROE
8.5%
8.4%
+ 0.0 pts
Combined ratio (2)
80.7%
80.9%
-0.2 pts
-0.4 pts
Earnings per share
Dividend
€1.99/share
€0.94/share(3)
€1.92/share
+3.5%
€0.89/share
+5.6%
47%
46%
Net operating free cash flow
Dividend cover
€1.97/share
€2.13/share
-7.5%
2.0x
2.4x
-17.8%
DIVIDEND AND CASH FLOW Payout ratio
SOLVENCY
(1) Average exchange rates:
Consolidated SCR coverage ratio
Consolidated MCR coverage ratio
227%
187%
+40 pts
388%
317%
+71 pts
At 31 December 2019: Brazil: €1 = BRL 4.41; Argentina: €1 = ARS 53.88
At 31 December 2018: Brazil: €1 = BRL 4.31; Argentina: €1 = ARS 32.99
(2) Personal Risk/Protection segment (term creditor insurance, personal risk, health and property & casualty insurance)
(3) Recommended at the Annual General Meeting of 17 April 2020
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