Reinsurance News

Crédit Agricole reports 24% revenue growth in 9M

11th November 2021 - Author: Staff Writer

Crédit Agricole Assurances has announced a 24.6% growth of revenue across its priority lines of business during the first nine months of 2021.

increasePriority lines of business include protection of assets and individuals and unit-linked products in savings and retirement.

Meanwhile, the combined ratio stood at 96.9%.

Property & Casualty revenue increased by 7.1% to reach €4.1 billion of premium income.

The number of contracts reached 15.1 million, up 4.6% year on year, thanks to a net contribution of nearly 511 000 contracts.

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Savings / Retirement written premiums rose by 37.8% year-on-year to €19.9 billion, with a very high level of net inflows at €4.4 billion.

In death & disability, creditor, and group insurance premiums written amounted to €3.5 billion, up 10.9% year-on-year, driven by all the three business segments, in France and abroad.

Growth, driven by traditional activities such housing, legal protection, personal accident insurance, auto, is reportedly benefiting from the launch of offers for corporates in the French market.

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