{"id":59764,"date":"2026-07-31T08:09:11","date_gmt":"2026-07-31T08:09:11","guid":{"rendered":"https:\/\/www.europesays.com\/france\/59764\/"},"modified":"2026-07-31T08:09:11","modified_gmt":"2026-07-31T08:09:11","slug":"credit-agricole-assurances-a-record-high-activity-driven-by-all-business-lines-2","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/france\/59764\/","title":{"rendered":"Cr\u00e9dit Agricole Assurances : A record high activity driven by all business lines"},"content":{"rendered":"

\"Cr\u00e9dit<\/a> Cr\u00e9dit Agricole Assurances <\/p>\n

Press release\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Paris, July 31, 2026 <\/p>\n

A record high activity driven by all business lines <\/p>\n

H1 2026\u00a0KEY FIGURES: <\/p>\n

Total premium income1 at \u20ac31.9 billion, up +15.9%2 <\/p>\n

Record net inflows3 of +\u20ac11.8 billion, of which more than half on the General Account <\/p>\n

Pre-tax income of \u20ac1,357 million, stable year-on-year4 <\/p>\n

Solvency II prudential ratio estimated at 195% <\/p>\n

\u00abThe results for this first half confirm the strength of our growth trajectory across all our business lines, in France and internationally. They demonstrate the relevance of a model that enables us to support our clients across all dimensions of their protection: securing their savings, preparing for retirement, protecting their assets, health, or business activities. The strength of our bancassurance model lies in this ability to address all these needs in a coherent and integrated manner, thanks to the proximity of our networks, the breadth of our expertise, and our territorial anchoring.
The early part of this year was also marked by the announcement of our new project ‘Shape Tomorrow’, the acquisition of Milleis Vie and its integration in Spirica as well as the launch of our Foundation dedicated to prevention, health, and protection of vulnerable people. These initiatives reflect our commitment to combining performance, purpose, and positive impact in service of our clients and society.
As fires continue to rage across France, Cr\u00e9dit Agricole Assurances is more committed than ever to supporting its affected customers and has rolled out emergency measures to support them. I would like to recognize the outstanding dedication of our 1,500 claims management staff who are performing exemplary work every day. Both in the short term and over the longer term, we will remain by the side of victims, emergency services and residents in the affected areas \u00bb said Nicolas Denis, Chief Executive Officer of Cr\u00e9dit Agricole Assurances. <\/p>\n

A DYNAMIC ACTIVITY IN ALL BUSINESS LINES <\/p>\n

In the first half of 2026, Cr\u00e9dit Agricole Assurances generated record high total premium income1 of \u20ac31.9\u00a0billion, up +15.9%2 compared to the end of June 2025. The level of activity is high both in France (+17.8% at \u20ac27.7 billion) and internationally (+5.1%2 at \u20ac4.3\u00a0billion). <\/p>\n

In savings and retirement, premium income1 was up +17.5% over one year in a particularly favourable savings environment. Gross inflows3 amounted to \u20ac16.1 billion (+15.9%) on the General Account and \u20ac8.3\u00a0billion on Unit-Linked (+20.7%). As a result, the share of Unit-Linked within gross inflows stood at 34.1% (+0.9 point year-on-year). <\/p>\n

Net inflows3 reached a record at +\u20ac11.8 billion, up +\u20ac3.6\u00a0billion year-on-year. By product, net inflows3 stood at +\u20ac6.6\u00a0billion on the General Account (+\u20ac2.2 billion year-on-year) and +\u20ac5.2\u00a0billion on Unit-Linked (+\u20ac1.4 billion year-on-year). <\/p>\n

Life insurance assets under management5 amounted to \u20ac392.1 billion increasing by +9.1% over one year thanks to very strong net inflows3 and favourable market effect. They included \u20ac266.5\u00a0billion in General Account (+6.2% year-on-year) and \u20ac125.6\u00a0billion in Unit-Linked (+15.9% year-on-year). The share of Unit-Linked reserves increased by +1.9\u00a0points year-on-year. The new 100% digital Oriance life insurance contract, launched on February 23, 2026, achieved significant success with assets under management of nearly \u20ac5 billion at the end of June. <\/p>\n

In property and casualty6, the business continued its growth trajectory with premium income1 up +10.5% compared to the end of June 2025 reaching \u20ac4.5\u00a0billion. The first half of 2025 did not include the contributions of ASG and Pi\u00f9Vera Assicurazioni, which have been consolidated since. At constant scope, the increase was +7.4%. The portfolio amounted to 18.2\u00a0million contracts, up +7.3% year-on-year (+2.2% at constant scope). <\/p>\n

Equipment rates within the Cr\u00e9dit Agricole Group’s banks kept growing year-on-year, both in the Regional Banks (45.0%7, up +0.8\u00a0point), at LCL (28.9%7, up +0.5\u00a0point), and at CA Italia (21.2%8, up +0.6\u00a0point). <\/p>\n

In personal protection (death and disability \/ creditor \/ group insurance9), premium income1 amounted to \u20ac3.1\u00a0billion, up +12.1% year-on-year. The first half of 2025 did not include the contributions of ASG, Pi\u00f9Vera Assicurazioni and Pi\u00f9Vera Protezione which have been consolidated since. At constant scope, premium income growth in personal protection was +7.0%. Creditor insurance grew by +10.8% (+3.1% at constant scope). Group insurance recorded growth of +25.2%, notably with the entry into force of the contract concluded with the Industries Electriques et Gazi\u00e8res (IEG) on July 1st, 2025. Finally, individual death and disability grew by +9.1% (+7.4% at constant scope). <\/p>\n

In individual and group health10, premium income grew by +17.1% over one year (+14.2% at constant scope) and represented 14.0% of the property and personal protection insurance business. <\/p>\n

RESILIENT RESULTS <\/p>\n

The growth in business activity, together with favourable market conditions and lower climate-related claims in the second quarter helped offset the effects of storms and floods of the first quarter. Consequently, Cr\u00e9dit Agricole Assurances’ pre-tax income4 amounted to \u20ac1,357 million for the first half, stable compared to the prior year. Cr\u00e9dit Agricole Assurances’ net income Group share declined by\u00a0-5.5%2 year-on-year to \u20ac961\u00a0million, due to an unfavourable base effect. <\/p>\n

The combined ratio11 increased by +2.1 points year-on-year to stand at 96.7% related to first quarter climate-related claims. The all years discounted claims ratio net of reinsurance amounted to 73.8%, deteriorating by +3.1 points year-on-year.
The net combined ratio excluding discounting increased by +2.6 points to stand at 100.0%. <\/p>\n

The Contractual Service Margin12 reached \u20ac29.5\u00a0billion at the end of June 2026, up +7.2% since December 31, 2025. It included a strong contribution from new business of \u20ac2.3\u00a0billion, driven by the activity growth, and is higher than the release through P&L (-\u20ac1.2\u00a0billion). Stock revaluation effect stood at +\u20ac1.1 billion due to positive market effect. <\/p>\n

SOLVENCY <\/p>\n

At the end of June 2026, Cr\u00e9dit Agricole Assurances once again demonstrated its strength with a Solvency II prudential ratio estimated at 195%. <\/p>\n

RATINGS <\/p>\n

Rating agency<\/p>\n

Date of last decision<\/p>\n

Main operating subsidiaries<\/p>\n

Cr\u00e9dit Agricole Assurances S.A.<\/p>\n

Outlook<\/p>\n

Subordinated debt <\/p>\n

Tier 2 <\/p>\n

Restricted Tier 1 <\/p>\n

S&P Global Ratings <\/p>\n

October 10, 2025 <\/p>\n

A+ <\/p>\n

A <\/p>\n

Stable <\/p>\n

BBB+ <\/p>\n

BBB <\/p>\n

HIGHLIGHTS SINCE THE LAST PUBLICATION <\/p>\n

About Cr\u00e9dit Agricole Assurances
Cr\u00e9dit Agricole Assurances, France’s leading insurer, is Cr\u00e9dit Agricole Group’s subsidiary, which brings together all the insurance businesses of Cr\u00e9dit Agricole S.A. Cr\u00e9dit Agricole Assurances offers a range of products and services in savings, retirement, health, personal protection and property insurance. They are distributed by Cr\u00e9dit Agricole’s banks in France and in 9 countries worldwide, and are aimed at individual, professional, agricultural and business customers. At the end of 2025, Cr\u00e9dit Agricole Assurances had more than 7,100 employees. Its 2025 premium income (non-GAAP) amounted to 52.4 billion euros.
www.ca-assurances.com<\/a> <\/p>\n

Press contacts<\/p>\n

G\u00e9raldine Bailacq +33 (0)6 81 75 87 59<\/p>\n

Nicolas Leviaux +33 (0)6 19 60 48 53<\/p>\n

Julien Bad\u00e9 +33 (0)7 85 18 68 05<\/p>\n

service.presse@ca-assurances.fr<\/a><\/p>\n

Investors relations contacts<\/p>\n

Yael Beer-Gabel +33 (0)1 57 72 66 84<\/p>\n

Ga\u00ebl Hoyer +33 (0)1 57 72 62 22<\/p>\n

Sophie Santourian +33 (0)1 57 72 43 42<\/p>\n

C\u00e9cile Roy +33 (0)1 57 72 61 86<\/p>\n

relations.investisseurs@ca-assurances.fr<\/a> <\/p>\n

Appendix \u2013 Analysis of activity by geographical area <\/p>\n

Geographic area <\/p>\n

H1 2026 premium income1
In billion euros <\/p>\n

H1 2025 premium income1
In billion euros <\/p>\n

Change over one year
At constant scope <\/p>\n

France <\/p>\n

27.7 <\/p>\n

23.5 <\/p>\n

+17.8% <\/p>\n

Italy <\/p>\n

2.7 <\/p>\n

3.0 <\/p>\n

-16.2% <\/p>\n

Rest of the world <\/p>\n

1.6 <\/p>\n

1.1 <\/p>\n

+40.5% <\/p>\n

1 “Non-GAAP” revenues
2 At constant scope, i.e. excluding the consolidation of Abanca Seguros Generales (“ASG”, a Spanish 50%-owned property and personal protection insurance subsidiary) on September 30, 2025, with retroactive effect at January 1, 2025, and excluding the consolidation of Pi\u00f9Vera Assicurazioni and Pi\u00f9Vera Protezione (Italian 65%-owned subsidiaries, respectively active in property and personal protection, and personal protection insurance) on December 31, 2025, with retroactive effect at January 1, 2025, changes are: +15.0% for total premium income, -1.4% for international premium income and -6.4% for the net income Group share.
3 In local GAAP
4 The contribution to the pre-tax income of Cr\u00e9dit Agricole S.A. amounted to \u20ac1,343 million. The difference with Cr\u00e9dit Agricole Assurances’ pre-tax income was mainly due to analytic restatements.
5 Savings, Retirement and Protection (funeral) <\/p>\n

6 As of June 30, 2025, Abanca SG’s property and casualty portfolio stood at 220k contracts, including net contribution of +44k contracts over one year. Pi\u00f9Vera Assicurazioni property and casualty portfolio stood at 645k contracts, including net contribution of +18k contracts over one year.
7 Percentage of Regional Banks and LCL customers with at least one motor, home, health, legal, mobile\/portable or personal accident insurance policy marketed by Pacifica, French Cr\u00e9dit Agricole Assurances’ non-life insurance subsidiary
8 Percentage of CA Italia network customers with at least one policy marketed by CA Assicurazioni, Italian Cr\u00e9dit Agricole Assurances’ non-life insurance subsidiary
9 Excluding savings and retirement
10 Health revenue is split between Property and Casualty for the individual segment and group insurance for the collective segment
11 See definition in chapter 8.4 \u00ab\u00a0Alternative Performance Indicator (API)\u00a0\u00bb of Cr\u00e9dit Agricole Assurances’ 2025 Universal Registration Document available on Investors – Cr\u00e9dit Agricole Assurances \u2013 Site Institutionnel Cr\u00e9dit Agricole Assurances<\/a>
12 CSM or Contractual Service Margin: corresponds to the expected profits by the insurer on the insurance activity, over the duration of the contract, for profitable contracts, for Savings, Retirement, Death and Disability and Creditor products <\/p>\n

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