CNP Assurances : Net income close to forecasts in 9M 2021
>Slowdown in premiums in Q3 but a good product mix - Last Friday, CNP Assurances reported its 9M 2021 net income. Group premium income was € 23.6bn (+26.3% reported, +29.2% like-for-like), missing forecasts (consensus € 24.7bn, our estimate € 23.9bn). Premiums rose by just 1.5% in Q3 2021, after very high levels in Q1 and Q2 2021. The gap with our estimate stems mainly from premiums in France (+1.0% in Q3 2021). We note, however, that the product mix improved further....CNP Assurances is an insurance company. Co. designs, develops, distributes and manages savings, pension & personal risk, and term creditor products. Co. offers savings products and insurance against the risks of everyday life to its customers. Co.'s operations are organized along three business segments. The Savings business concerns products enabling policyholders to build up capital which they can cash in. The Pensions business concerns products designed to enable policyholders to receive an annuity or lump sum on retirement. The Personal Risk business includes products enabling policyholders to insure against the risks of death, accident or illness, property damage or liability claims.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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