Dynamic business in the protection of assets and people

Philippe Dumont, CEO of Credit Agricole Assurances: “Despite a complex economic environment, Crédit Agricole Assurances reported solid financial results for the third quarter with good performances from our key businesses. These good results demonstrate the strength and relevance of our universal bancassurance model. This third quarter was marked by the presentation of our Strategic Plan 2025, which will support the development of our core businesses in France and abroad and diversify our offers and services to cover all the needs of our customers, especially in the areas of health and retirement.” .

In a complex economic and financial context Crédit Agricole Assurances’ priority lines of business performed well: Revenue growth in asset and people protection (+6% compared to September 2021, +8% at constant volume), good resilience of unit-linked net inflows (+€4.4 billion since the beginning of 2022). In the first nine months of 2022, Crédit Agricole Assurances generated sales of 27.2 billion euros.

In damage and accidentActivity stays dynamic with Premium income increases by +7.7%1 compared to the end of September 2021 4.3 billion euros, with a significant increase of +22.6% in Italy. At the end of September 2022, the number of P&C contracts was just under 15.2 million contracts+3.5% increase1 over a year, with a net contribution over the first nine months of the year of almost 445,000 contracts.

equipment prices2 from retail customers in French regional banks stable (42.6%2 end of September 2022, -0.1 point compared to the previous year), growing at LCL (27.1%2 September 2022, +0.6 pts yoy) and at CA Italia (20.6%3 end of September 2022, +1.8 pts year-on-year).
That combined rate4was 98.7% at the end of September 2022, marked by several major climatic events in France in the first nine months of the year.

In death, disability, creditor and group insurancePremium income was included 3.7 billion euros end of September 2022, +7.7% up1 Year after year, in France and abroad. Credit insurance activities continue to be supported by a favorable real estate market (+8%). Group insurance recorded strong revenue growth of +16%.

in the Saving/ Retirement, gross inflow reached 19.1 billion euros End of September 2022. In France, it amounted to 15.4 billion euros, stable compared to September 2021 (-1.4%). Gross unit-linked inflows remained strong at €7.7 billion, with a UL rate of 40.1%. Total Net Inflows amounted to +€3.2bnWith unit-linked net inflows at +4.4 billion euros.
Outstanding life insurance policies amounted to 318 billion euros5 End of September 2022, incl €78.9 billion unit-linkedand 239.2 billion euros denominated in euros. Outstanding unit-linked products represented 24.8% of total receivables end of September 2022.

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HIGHLIGHTS

Crédit Agricole Assurances presents its strategic plan for 2025
With this project, Crédit Agricole Assurances, active for many years as an insurer, investor and responsible company, wants to promote the development of its core businesses in France and internationally, diversifying its offers and services to cover all the needs of its customers, in particular health and retirement.

The further development of the core businesses of Crédit Agricole Assurances is based on 5 pillars:

  • Accelerate the protection of property and people
  • Develop new responsible and accessible savings solutions
  • Intensification of our universal bank-insurer model for companies
  • Develop our activities internationally
  • Become the leading digital insurer

The diversification of the offers and services of Crédit Agricole Assurances to cover all the needs of its customers, especially in the areas of health and retirement, is based on 4 pillars:

  • Take a global and service-oriented approach to health insurance
  • Set up a complete offer for seniors and retirees
  • Put social and ecological concerns at the center of our offers and our mission statement
  • Respond to the long-term challenges of French society as a key player in Crédit Agricole Santé et Territoire

Net Zero Asset Owner Alliance: Crédit Agricole Assurances goes even further in its commitment to a low-carbon economy
In line with the Crédit Agricole Group’s climate commitments, at Crédit Agricole Assurances we continue our efforts towards a low-carbon economy by investing in the energy transition.
At Crédit Agricole Assurances, we are committed to achieving the following quantified objectives
Goals:
– Reduced the carbon footprint of our listed equity and corporate bond investment portfolio by 25%.
– Increase our investment in renewable energy sources to help ultimately bring 14 GW of production capacity online, exceeding the 10.5 GW announced in 2021 and equivalent to the average annual energy consumption of five million French homes.
– Dialogue with at least 20 of the largest issuers in our portfolio.

F2i acquires wind farms in northern Spain with Crédit Agricole Assurances and power distribution company EVM from Villar Mir Group
F2i, Italy’s leading infrastructure fund, and Crédit Agricole Assurances have signed an agreement for the acquisition of operating wind farms (53 MW capacity) and wind projects at an advanced stage of development (430 MW capacity) from the Villar Mir Group in Northern Spain. F2i will acquire 60% of the wind power portfolio through Fund V – Fondo per le Infrastrutture Sostenibili, and the remaining 40% will be held by Credit Agricole Assurances, F2i’s existing partner in the EF Solare Italia Group. The seller Villar Mir is a historic Spanish conglomerate active in real estate, metalworking, power generation and construction in 31 countries.

About Credit Agricole Assurances
Crédit Agricole Assurances, France’s largest insurance group, brings together the insurance subsidiaries of Crédit Agricole. The group offers a range of savings, retirement, health, personal protection and property insurance products and services. They are distributed by Crédit Agricole banks in France and by financial advisors and insurance agents in eight other countries around the world. Crédit Agricole Assurances companies serve individuals, professionals, farmers and companies. Crédit Agricole Assurances has 5,300 employees. Their premium income amounted to 36.5 billion euros (IFRS) at the end of 2021.
www.ca-assurances.com

press contacts
Françoise Bololanik + 33 (0)1 57 72 46 83 / 06 25 13 73 98 Nicolas Leviaux +33 (0)157 72 09 50 / 06 19 60 48 53
[email protected]

Investor Relations Contacts
Marie Isabelle Marcellesi + 33 (0)1 57 72 12 84
Victoire Emmanuelle Prud’homme +33 (0)1 43 23 90 66
Valentin Lecomte +33 (0)1 43 23 59 76
[email protected]

1constant scope

2 Percentage of customers with at least one contract in auto, multi-risk household, health, legal, all cellphone, or casualty insurance.

3Percentage of CA Italia customers with at least one policy distributed by CA Assicurazioni, the non-life insurance subsidiary of Crédit Agricole Assurances

4Ratio of (claims + operating expenses + commissions) to premium income, net of reinsurance, Pacifica size

5Saving, Retirement and Death and Disability

source

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