Moreover, we achieved this performance in a year devoted to transforming our business. The growth in unit-linked sales and protection insurance premiums was the result of the strategies deployed as from 2013, with the continued strong momentum in Brazil also contributing to our strategic refocusing on the businesses that create the most value. Jean-Paul Faugère - The Board of Directors congratulated the Group’s management and teams for the quality of these results. And all the directors welcomed the business model’s refocusing on more profitable business lines with the support of our partner networks.
distributed through BPCE subsidiary Banque Privée 1818 in late 2014 attracted €20 million in new money in just one month. At the same time, new partnerships with private banking institutions, family offices and groups of independent financial advisors have put CNP Assurances’s premium savings offer centre stage, with new money at over €260 million.
A MULTI-CHANNEL DISTRIBUTION NETWORK By acquiring a controlling interest in the life and non-life subsidiaries of Santander Consumer Finance, CNP Assurances has gained access to an exceptional multi-channel distribution network. In the space of ten years, Santander Consumer Finance has built a commanding position in the European consumer finance market, in the face of stiff competition primarily from subsidiaries of major French banking groups. Specialised in distributing auto loans, which account for 50% of its revenues, Santander Consumer Finance provides retail financing for the customers of over 70,000 mainly Mazda, Volvo, Kia and Hyundai dealers throughout Europe. Together with other partners such as TV and hi-fi stores, household appliance stores and major retailers, the company’s consumer finance products and services are offered through more than 100,000 points of sale in the region. Santander Consumer Finance is also present in direct- to-consumer channels, notably through a network of 600 branches, which enable it to forge close local relationships with customers.
In 2014, we initiated the strategic refocusing of our business model on the social protection businesses, leveraging our partnership culture and add-on services to better insure all of our customers’ futures.
AN EXPERT PLATFORM DESIGNED FOR SHARING The supplementary health insurance market offers a great opportunity, but it’s heavily regulated and is likely to be the scene of fierce competition with the most efficient insurers coming out on top. To rank among the winners, we have joined forces with Alptis Assurances, a master broker specialised in employee benefit plans and digital solutions. Our joint subsidiary, Capvita, combines bespoke solutions developed by our Group with Alptis Assurances’s expertise in distance selling and contract administration. Capvita will provide 4,600 companies have chosen CNP Assurances to manage their employee benefit plans.
MAGALY SIMÉON Head of the Social Protection and Services business unit
Corporate philanthropy, non-profits €4m €422m €332m €529m 42 – CNP Assurances – 2014 Annual Report
CAREER OPPORTUNITIES Most positions within CNP Assurances are filled by internal candidates. In 2014, normal employee departures (around 135 people), combined with the creation of the business units and corporate functions opened up new career opportunities. In all, 74% of the positions that fell vacant in 2014 were filled internally. Some 150 employees were promoted. A number of initiatives were launched to enable each employee to find a position aligned with his or her skills and aspirations in the new organisation. During the year, 93% of employees benefited from an annual performance review, giving them an opportunity to discuss their career options with their manager, and 50 – CNP Assurances – 2014 Annual Report
* Ranking of the top 120 French companies for gender equality published by the Social Affairs, Health and Women’s Rights Ministry to mark Gender Equality Week.
AFFORDABLE All of this has led to our current affordable product offering.