Financial results

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



Key figures 


Highlights FY2020

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

A stable business development
(premium, Sgam, IFRS, €bn)



Investment stability despite headwinds, as of FY2020: €108.6bn (+5.7%)
(FY2020, IFRS)



Controlled decrease of General Account exposure and focus on Unit Linked exposure



Executive summmary




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