TALEs OF sAvINGs AND PERsONAL RIsk seven radio ads to heLP PrePare and safeGuard you and your famiLy’s future Created By Caisses d’eParGne in PartnershiP With CnP assuranCes
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care insurance. Policies are distributed by two major partners –La Banque Postale and the Caisses d’epargne network–, our in-house CnP trésor network, and in the employee benefits market, by various mutual insurers, employee beneit institutions, companies and local authorities. in line with our insurance vision, we offer a range of affordable solutions and services that can be tailored to individual needs. the formulas give policyholders total freedom to select the level of cover they want, and also the amount, which can be increased or reduced. this approach once again proved successful with french clients in 2012, leading to 3.2% growth in personal risk/ protection revenue. La Banque Postale Prévoyance sold 10% more contracts than in 2011, relecting strong demand for Sérénia, a high-end term life 3.2% growth in PersonAl risk/Protection revenue in franCe
What is your initial assessment? We started out with a portfolio of a little over 1,000 insureds. One year on, we now have close to 30,000 and we are working on a base of 230,000 potential insureds employed by numerous companies. While the health insurance portfolio concerns group contracts, the dental insurance portfolio is divided between group contracts (57%) and individual contracts (43%), distributed by several channels such as Caixa bank branches, lottery sales booths, telemarketing, and web chat. Implementation of our risk management process has been a key factor in developing the business. We are planning to strengthen our partnerships and sales channels to become a major health insurer in Brazil.
SRI screening was gradually extended, and in 2011 we signed up to the UN’s
Partnering french smes over the long term We began investing in private equity at the beginning of the 1990s when this activity started to emerge in France. For an investor, it consists of taking an equity stake in a generally unlisted company that needs financing. We are supporting the development of more than 500 such companies in France with revenue of less than €50 million.
The trend in France is towards outsourcing private equity investing, but we have made a different choice, preferring to take a more hands-on approach. We are closely involved in managing the private equity funds we invest in, with seats on the advisory committees of around ifty funds. This makes us better able to form an opinion and to act accordingly. We devise a strategy and decide on the best way of implementing it to support companies over a long period, through good times and bad. To attenuate the risks associated with private equity investing, we diversify our holdings in terms of economic sectors, geographic location and the size of investee companies.
Of this amount, €4.3 billion was invested in a diversified portfolio of office properties spanning the whole country, such as the EDF building in La Défense, a high technology to traditional manufacturing industry, partnering SMEs operating in emerging niches as well as in established markets.
Bonds and other fixed income securities 88.4% Equities and other variable income securities 6.61% Investment property and property funds 3.33% Other 1.66%
How do you meet the needs of employee benefits institutions? Over the last decade, the employee beneits institutions market has undergone a period of rapid consolidation. Large groups have been formed that account for the bulk of business in this market. CNP Assurances has partnered their development by constantly adapting to their needs. Reinsurance is a key inancial tool, because it enables these groups to increase their underwriting capacity and coverage ratio while also reducing
Some assets are managed directly by our in-house teams. These include investment property, private equity funds and financial instruments traded directly on the markets. Other assets are managed by the specialist entities of our major partners in France, namely La
France, we created a team to manage the employee protection programme for the entire organisation and set up a consolidated reporting system to provide an oversight committee with information about the programme’s funded status.
CnP Assurances’s client-focused vision is self-evident in its products, which are aligned with people’s needs. In mature and emerging markets, demand is growing for long-term savings and pensions solutions on the one hand and, on the other, for protection and security. This is particularly true in Brazil and other South American countries, for demographic, socio-political and economic reasons. Our responsiveness to market needs is what builds loyalty among our policyholders and partners.
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