Societe Generale Insurance: The roll out of the integrated bancassurance model picks up speed

GROWTH IN SALES AND RESULTS

  • Premium income in 2014 reached a record high of EUR 12.0bn, up by 12.3% over 2013. Growth came both from French business (+8%) and international business (+25%).
  • Net savings inflows were positive at EUR 3.4bn (+72% vs 2013).
  • In-force life insurance / savings business increased by 7% reaching EUR 90.2bn at end 2014.
  • Net banking income (NBI) amounted to EUR 786m, up by 5%.
  • Operating ratio was 38%.
  • The contribution of the insurance business line to the Societe Generale Group net result amounted to EUR 329m, showing growth of 3%.

ACCELERATED GROWTH

  • Strengthening of the integrated bancassurance model with the decision to acquire Aviva France's 50% stake in Antarius.
  • Launch of a group health insurance product for professionals, corporate and institutional clients.
  • Multiplication of innovations serving customer satisfaction.

"Today Societe Generale Insurance is at the heart of the Societe Generale group’s development strategy, in synergy with all its retail and private banking distribution networks in France and abroad.

The results of Societe Generale Insurance and its continued growth in 2014 confirm the strength of its integrated bancassurance model, its capacity to invest in enhancements to its products, to develop innovative services for the Group customers and to seize the opportunities offered by digital transition.

Societe Generale Insurance is positioned in markets with potential and can rely on an efficient business model, which means it possesses powerful growth drivers in all its businesses, in France and abroad."

Philippe Perret, Chief Executive Officer, Societe Generale Insurance.