CNP Assurances 2022 annual results

An overall performance illustrated by strong earnings growth, successful implementation of our international strategy and high commitments to ensure that we are useful to all our stakeholders.

  • #Résultats financiers
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  • Premium income of €36bn (up 13.7%)

  • Attributable net profit of €1,939m (up 25%)

  • SCR coverage ratio of 230% (up 13 pts)

  • green investment portfolio €25.2bn (up 19.4%)

CNP Assurances reported sharply higher earnings, reflecting the momentum created by our international growth strategy and our outstanding performance in adjusting to the changing interest rate environment. As we help to build a more inclusive and sustainable society, our ambition is to become the most useful insurer for our stakeholders. In line with our environmental and socia commitments, we are proud to publish for the first time our overall performance covering both financial and non-financial indicators.

Stephane Dedeyan — Chief Executive Officer of CNP Assurances

Key financial and non-financial metrics

  • Premium income of €36bn, up 13.7% vs 2021 (down 3.6% like-for-like1)
  • Increase in international premium income, reflecting acquisition of the CVA subsidiaries in Italy
  • Savings/Pensions new money (France and international) invested in unit-linked funds still high at 49.6% of the total (down 1.6 points vs 2021)
  • A further €4bn worth of PACTE transfers, driving a 15-pt improvement in the unit-linked weighting
  • EBIT of €3,570m, up 15.4% (up 6.6% like-for-like)
  • Cost/income ratio at 27.0% (down 0.9 pts like-for-like)
  • Attributable net profit of €1,939m, up 25% vs 2021
  • Consolidated SCR coverage ratio of 230%, a 13-pt improvement vs 2021
  • Recommended dividend of €1.382 per share, representing a 50% payout rate
  • €25.2bn green investment portfolio (up 19.4%)
  • Customer Effort Score of 2.2/53
  • 51% women4 on the Executive Committee
  • 28% of purchases made from inclusive enterprises (micro-enterprises-SMEs, social economy, etc.)
  • Net Promoter Score of +12 awarded by our distribution partners
  • ESG ratings position among the top 9% of insurance companies on a representative panel of 5 agencies.

1Based on a comparable scope of consolidation and at constant exchange rates: Average 2022 exchange rates: Brazil: €1 = BRL 5.44; Argentina: €1 = ARS 113.25. Average 2021 exchange rates: Brazil: €1 = BRL 6.38; Argentina: €1 = ARS 112.51
2 2022 dividend to be recommended by the Board of Directors at the next Annual General Meeting on 30 March 2023
3 Score for France, between 1 (very easy) and 5 (very difficult)
4 Annual average

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