The French multinational insurance giant CNP ASSURANCES, 100% shareholder of the leading Insurance Group in Cyprus, CNP CYPRUS, announced its annual financial results for 2021.
The most important data are :
· Turnover € 31.7 billion with an increase of 19.4% from 2020
· Net Profit € 1.55 billion with an increase of 15% from 2020
· Solvency Coverage Index 217% with an increase of 9 points
Stéphane Dedeyan, CEO of CNP ASSURANCES, said:
“Significant progress has been made in 2021 and our new growth levers are recording strong momentum in Europe and Brazil. The overall performance of the Group and the strong solvency ratio, provide a solid foundation. The growth opportunities resulting from our participation in the major public financial group and the significant acquisition of Aviva's life business in Italy in 2021, confirm the international multi-partner insurance model of CNP ASSURANCES “.
Locally , the CNP CYPRUS Group, with the Companies of CNP CYPRIALIFE and CNP INSURANCE in Cyprus and CNP LIFE and CNP INSURANCE (Branch) in Greece, in the year 2021 achieved an increase in its total production. The annual premiums for 2021 exceeded € 190 million and the increased net profitability amounted to € 16.8 million, despite the wider international environment of uncertainty.
Commenting on the financial results, the CEO of CNP CYPRUS, Mr. Takis Pheidias, stated:
“The high degree of reliability, the strong capital adequacy, the complete coverage of insurance products and the quality of service and response to the needs of our policyholders, led the CNP CYPRUS Group to achieve strong financial results in 2021. In particular, CNP ASFA remains stable. first place in the general insurance market. CNP CYPRIALIFE achieved record sales of recurring premiums and remained firmly in first place for the eighth year. These performances are accompanied by the very positive results and profitability of our parent Group, the French multinational giant CNP ASSURANCES. They reflect the new business philosophy “raison d'etre” (the reason for our existence), with which the Group and its companies implement their strategy of sustainable development. “
About CNP ASSURANCES :
CNP ASSURANCES is a leading personal insurance provider in France and operates in 19 countries in Europe and Latin America. It has a dynamic presence in Cyprus as the exclusive shareholder of the CNP CYPRUS INSURANCE HOLDINGS Group. The CNP CYPRUS Group includes the insurance companies CNP CYPRIALIFE (in the Life and Health sector) and CNP INSURANCE (in the General sector), as well as CNP LIFE and CNP INSURANCE (Branch) in Greece.
CNP ASSURANCES is listed on the Paris Stock Exchange and is a subsidiary of La Banque Postale. The Group reported a net profit of 1.55 billion euros in 2021.