CNP Assurances Publishes Year-End 2023 Solvency Reports

Today, CNP Assurances Group and CNP Assurances SA disclosed their Solvency and Financial Condition Reports (SFCRs) for the period ending 31 December 2023, in line with the Solvency II directive. The documents received approval from the relevant Boards of Directors on 22 March 2024. While currently available in French, English versions will be accessible online from 17 May 2024.

The Group’s solvency coverage ratio showcased a strong financial position, recording a 253% coverage at the end of 2023, marking a 21-point increase from the previous year. This improvement was attributed to a confluence of factors including market trends and strategic financial management. The Solo SFCR for CNP Assurances SA also highlighted a robust coverage ratio of 270%, emphasizing its financial resilience.

Key financial metrics included a total of €38.1 billion in own funds eligible for the Group’s solvency capital requirement (SCR) calculation, demonstrating significant financial health. Moreover, the SCR and minimum capital requirement (MCR) ratios further underlined the group's solvency strength.

Additionally, the reports detailed the impact of the volatility adjustment and the decision not to apply transitional measures on interest rates or technical provisions, aligning with the Group's straightforward approach to reporting its solvency position.

For further details, the SFCRs are accessible on the CNP Assurances website and queries can be directed to infofi@cnp.fr. The next major financial update is scheduled for 31 July 2024, with the mid-year publication under the IFRS 17 standard.