Crédit Agricole Assurances : Dynamic activity driven by savings & retirement

Core Insights - The results for the third quarter highlight the robust performance of Crédit Agricole Assurances, showcasing a nearly 25% increase in savings and retirement premium income year-on-year, reflecting client trust amid political and economic uncertainties [2][4]. Financial Performance - Total premium income reached €39.3 billion, marking a 20.0% increase compared to September 2024 [4][10]. - Savings and retirement premium income was €29.8 billion, up 24.9% year-on-year, driven by strong commercial momentum and autonomous voluntary payments [5][10]. - Net inflows amounted to €12.0 billion, an increase of €7.8 billion year-on-year, with significant contributions from both the General Account and unit-linked products [6][10]. Product Performance - Life insurance in France saw a remarkable growth of 27.2%, attributed to inflow collections from partner banks [4]. - The outstanding life insurance reached €366.7 billion, with General Account reserves at €254.6 billion (+4.7%) and unit-linked reserves at €112.2 billion (+7.7%) [7]. - Property and casualty gross written premiums increased by 9.4% to €5.4 billion, including the consolidation of Abanca Seguros Generales [8]. Contribution to Net Income - The contribution of Crédit Agricole Assurances to Crédit Agricole S.A.'s Net Income Group Share was €1,461 million, stable year-on-year, but adjusted for exceptional tax contributions, it grew by 4.8% [12]. Operational Metrics - The combined ratio remained stable at 95.4%, with a slight decrease in the net undiscounted combined ratio to 97.6% [13]. - The Contractual Service Margin increased by 8.3% to €27.3 billion, driven by strong new business contributions [14].