GROUPAMA / 2018 Registration document
EARNINGS AND FINANCIAL POSITION MANAGEMENT REPORT OF THE BOARD OF DIRECTORS
The breakdown ofthe Groupama Gan Vie entity’spremium incomeby networkis as follows:
2017 Actual
2018 Actual
2018-2017 Change
(in millions of euros)
Regional mutuals
1,024
1,176
14.9%
General agents
868
808
-6.9%
Brokerage
992
1,189
19.8%
Gan Patrimoine
234
276
17.8%
Gan Prévoyance
475
469
-1.2%
Réunima
2
1
-42.4%
TOTAL
3,595
3,919
9.0%
Individuals
2,127
2,192
3.0%
of which unit-linked savings/pensions
680
757
11.3%
of which savings/pensions (in euros)
1,050
1,064
1.3%
Groups
1,467
1,727
17.7%
TOTAL
3,595
3,919
9.0%
Premium income of the network of regional mutuals amounted to €1.176 billion at 31 December 2018, up +14.9% compared with the previous period. Individual insurance business totalled €1.063 billion (+8.9%) in connection with the rise in individual savings/pensions income (+9.6%, including +8.5% in UL). Group insurance premium income totalled €113 million at 31 December 2018 compared with €47 million over the previous period, mainly due to the booking of exceptional premiums in group retirement (including €30 million inUL). The Gan Assurances network posted premium income of €808 million at 31 December 2018, down -6.9% compared with 31 December 2017. Individual insurance written premiums decreased by -13.1% as a result of the decline in individual savings/pensions (-12.8%). Activity in group insurance declined -0.5%, mainly due to the decline in protection insurance (-2.6%) and health insurance (-1.1%). However, it was dampened by growth in group inward reinsurance(+41.3%due to the rise in new business). The brokerage network posted premium income of €1.189 billion at 31 December 2018, up +19.8% compared with 31 December 2017, in connectionwith the growth of the group health (+21.9%) and group retirement (+58.9%) segments, which benefited in particularfrom the development ofa major policy(€70 million).
Revenue for the Gan Patrimoine network increased by +17.8% to €276 million at 31 December 2018, driven by the growth of the individualsavings/pensionssegment (+19.8%). The Gan Prévoyance sales network contributed €469 million to group revenue at 31 December2018, a drop of -1.2% compared with the previous period. Activity in individual savings/pensions rose +0.7% (including -9.2% in euros and +35.7% in UL) with growth in the retirement segment (+5.4%) mitigating the decline in the savings segment (-14.2%).However,this changewas offset by the decline inthe protectioninsurancesegment(-4.4%). The premium income in life and health insurance of Gan Assurancesremainedstable at €142 millionat 31 December2018. The decrease in individual health (-0.8%) due to a decrease in the number of policies in the portfolio (-5,400 policies as of the end of December) was offset by the growth in the individual protection insurance segment (+3.3%). The Caisses Fraternelles posted premium income of €2 million at 31 December 2018. The discontinued business of the subsidiary Assuvie decreased -24.7% compared with 31 December 2017. Its premium income (consisting only of periodic premiums in run off) amounted to €3 million at 31 December2018.
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REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES
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