Investor

Financial results

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

Executive summary

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Key figures 2019 

 

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Highlights 2019 

Management actions implemented in 2019 to secure La Mondiale balance sheet

Although the short / medium term profitability of the Group is high, the very low rates environment could had an impact on the solvency figures. Thus, actions have been taken to limit as much as possible the negative impacts of this environment

  • Capital management : Successful RT1 issuance in October 2019, ongoing selling of mutual certificates
  • Asset management  : Hedging program
  • Liability management : Strong limitation of inflows on general account, Crediting policy lowering, new products

Exceptional liquidity

  • Liquidity due to a large share of non-redeemable outstandings and periodic premiums on pension contracts
  • Cash buffer of €14.4bn
  • Liquidity qualified as “exceptional” by Standard & Poor’s

Net General Account (GA) inflow at 0, Unit Linked (UL) net inflow part better than the market

  • Net GA inflows are down with less inflows on pensions and thanks to infra-annual management, especially in the second half of 2019
  • UL Net inflows are maintained at their level despite a complicated market
  • UL's share of inflows increased from 67% in 2018 to 96% in 2019, 20 points above the FFA market

Equities hedging – Purchase of put options

  • Huge hedging program of €4.5bn of equities portfolio, with strike of 3150 on Stoxx50, combined with sale of €1bn
  • Reducing of portfolio sensitivity to equity risk, preserving the financial margin, improving the solvency ratio and mitigating shocks on equity market.

 

A stable business development
(premium, Sgam, IFRS, in €bn, 12/31/2019)

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Strong investment growth, as of end of 2019 : €109.9bn (+9.7%)

(IFRS)

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Controlled decrease of General Account exposure and focus on Unit Linked exposure as of 12/31/2019

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OUR PUBLISHED FINANCIAL INFORMATION

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