Published on 02/17/2021 at 9.46 a.m.
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(AOF) – Rising 5.14% to 14.73 euros, CNP Assurance is one of the main increases in the SBF 120 index. The insurer unveiled a net result, group share, down 4.4% to 1.35 billion euros for 2020. Gross operating income fell 14% to 2.614 billion euros. It fell 5.7% at constant exchange rates. The group margin rate on new business was 12.2%.
The turnover fell by 17.3% to 27 billion euros, mainly because of the health crisis. The impact on turnover amounted to -3.5 billion on the group, of which -2.4 billion in France, -0.7 billion in Latin America and -0.4 billion in Europe excluding France. It fell 11.5% at constant exchange rates. The burden related to the crisis remained at an equivalent level, or even slightly reduced compared to the first half.
CNP claims positive net inflows of 5.9 billion euros for unit-linked contracts, and negative 7.2 billion for contracts in euros.
Antoine Lissowski, CEO of CNP, who will also cede his place to Stéphane Dedeyan in April, said: “Despite the health crisis that marked life insurance sales in France in the first half of the year, CNP Assurances the production transformation program and outstandings induced by the negative interest rate context. Production in Italy and Brazil, very concentrated on Unit-linked, was dynamic “.
The coverage rate of the Group SCR, which measures its solidity, was 208% at the end of 2020 against 227% at the end of 2019.
Finally, the board of directors proposes a dividend payment of 1.57 euros per share, including 0.77 euros as a regular dividend and 0.80 euros as an exceptional dividend, i.e. 40% of the payout rate over the years 2019 and 2020. .
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Insurers want to act on climate risk
Over the past twenty-five years, the cost of compensating weather-related claims has more than doubled. It went from 1.2 billion euros on average between 1984 and 1989 to 3.2 billion euros between 2015 and 2018. The cost of claims should continue to increase and the French Insurance Federation (FFA) figure additional costs to 13 billion euros in compensation by 2040.
First, the insurers revised their coverage conditions. In France, since the beginning of the 2000s, forest insurers no longer cover the Mediterranean region. In the longer term, the sector aims to better prevent these climatic hazards. The FFA recently created a Sustainable Finance Observatory to encourage its members to contribute to the goal of carbon neutrality by 2050.
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