from ACM
Groupe des Assurances du Crédit Mutuel’s Solvency II ratio is 218% as of June 30, 2024.
Strasbourg, August 13, 2024
Groupe des Assurances du Crédit Mutuel’s Solvency II ratio is 218% as of June 30, 2024.
It is 8 points lower than at December 31, 2023, as a consequence of the foreseen payment of dividend on the second half of the year, in relation with the operations of capital structure’s optimization of GACM and Groupe Crédit Mutuel.
As of June 30, 2024, the Solvency II ratio of Groupe des Assurances du Crédit Mutuel (GACM) is 218%, compared to 226% as of December 31, 2023.
This ratio is evaluated by comparing the level of eligible own funds in the Solvency II balance sheet,
i.e. 13,953 million euros, with the SCR (Solvency Capital Requirement) which corresponds to the own funds requirement, i.e. 6,388 million euros. The SCR is calculated according to the standard formula. No transitional measures have been used.
92% of GACM's eligible own funds for SCR coverage is classified as unrestricted Tier 1.
GACM's Minimum Capital Requirement coverage ratio is 525%, up from 539% at December 31, 2023.
These ratios were calculated based on the assumption that the payment of an extraordinary dividend proposed by the Management Board will be voted by the GACM General Meeting on September 27, 2024.
Press contact
Mathieu Girème: +33 (0)3 88 13 23 23 – mathieu.gireme@acm.fr
About Assurances du Crédit Mutuel
Since 1971, Assurances du Crédit Mutuel has imagined, designed and guided the offers and services that contribute to the development of the insurance business of Crédit Mutuel Alliance Fédérale, the inventor of the concept of bancassurance.
Active in the property and casualty insurance, health, protection and creditor insurance, and life insurance markets, Assurances du Crédit Mutuel offers innovative solutions to more than 13 million policyholders (individuals, professionals, companies and associations) throughout France, through the Crédit Mutuel* and CIC networks.
Further information is available at acm.fr