CNP Assurances posted record net profit of 1.94 billion euros last year, driven by solid performances in France, Italy and Brazil, according to figures released Thursday by the group, which became a 100-million-dollar subsidiary last June. % of La Banque Postale.
Revenue for 2022 was €36 billion, up 13.7% from 2021 as reported. Our overall performance is marked by a very strong increase in our results, with a net profit up 25%as well as by the success of our international strategy, welcomed Stephane Dedeyan, CEO of CNP Assurances, to AFP.
The international share reached 47% of the group’s turnover, boosted in Italy by the acquisitions of certain life insurance activities and a good performance of the activity in Brazil, notes the Deputy Chief Executive Officer of CNP Assurances, Thomas Bhar. A favorable exchange rate for the real also boosted the net result achieved in Brazil last year. Turnover in France is down slightly by 3.7%, to 19.2 billion euros.
The 2022 financial year was also marked by the delisting of CNP Assurances, effective in June. The insurer, since a 100% subsidiary of La Banque Postale, will go back to him 945million euros in dividend under last year.
Environmental commitments
Last year was also marked by commitments made by CNP Assurances in terms of the environment. In February, the company announced the immediate cessation of financing for any new oil and fossil gas exploration or production project, whether conventional or unconventional. In October, it tightened its policy of exclusion in terms of thermal coal and announced a doubling of its impact investments to reach one billion euros by 2025.
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In its results press release, CNP Assurances highlights its so-called green outstandings, which finance, for example, the energy transition or renewable energies, 25.2 billion euros (+19.4%), as well as extra-financial indicators. Sustainable financial performance is inconceivable without extra-financial performance, underlined Mr. Dedeyan, who speaks of a commitment of conviction made by a responsible insurer driven by a civic vocation. We clearly intend to make our merger with La Banque Postale a springboard for creating a large, useful and unique public bank-insurer, he added.
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