Financial results

See our financial results, annual and half-year reports and investor presentations.

Controlled Covid-19 impacts on net income, resilience and solidarity facing the crisis

Net income was stable over last year at €347m, excluding Covid-19 impacts
A €125m negative impact (net of tax and reinsurance) on the net income at the Group level €105m for La Mondiale)
Crisis management and commitments to our employees
Solidarity actions
A permanent involvement for our customers to face Covid-19 crisis
Individual pension transformation project

Maintain the competitive position in a new market framework, better suited to long-term retirement risks (FRPS in French)

More than 25pts positive expected impact on the solvency ratio as of 2022
New pension contracts PER (PACTE law compliant) were successfully launched in a very competitive market (1.3% increase of individual premiums)

Low rates environment management

A remarkable high unit-linked (UL) net inflow: €1.3bn
Negative net inflow on General Account (GA) managed, strong improvement in asset mix UL/GA at 55/45
Resilient savings activity with a limited -6.4% decrease, much lower than -19% observed on the French market. Leader on the private wealth savings market, the Group still performs
A continuous decreasing guaranteed rate, at 0.58% at EoY2020, lower than peers and with an above-market buffer
As of end of February, rates have risen and would lead to a solvency ratio above 200%

Capital management

Two oversubscribed Tier 2 and Tier 3 issuances in June and October 2020 at historically low rates, strengthening Group's solvency ratio by 14pts

Upgrade from S&P to ‘A’ Outlooks stable

Despite potential adverse environment, strong robustness of the Group has been recognized by S&P

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