A sound set of results to achieve our 2020 ambitions !

ROBUST FINANCIAL RESULTS AND INCREASED FINANCIAL RESERVES

  • Sustained business growth in all business segments.
  • Savings Life Insurance outstandings up by 16% to EUR 114bn following the integration of Antarius and increase of the share of unit-linked funds in outstandings (+3 pts to 26.4%).
  • Growth of 9% in Protection premiums.
  • Improved cost-to-income ratio to 37.5% (-1 pt).
  • 10% growth in the contribution of the Insurance business to Societe Generale group’s net income (EUR 406m).
  • Significant increase in Societe Generale Insurance’s financial reserves to 4.5% (+0.4 pts).

TO ACHIEVE A 2020 AMBITION STRUCTURED AROUND TWO STRATEGIC PRIORITIES

  • To capture the full potential of the integrated bancassurance model in France and abroad,
  • To accelerate our drivers for growth and diversify our business models.

 

2017 has been a key year in the continued dynamic of Societe Generale Insurance development, a year that has seen the outcome of two major projects: the acquisition of Aviva’s majority stake in Antarius on 1 April 2017 and the roll-out of an ambitious transformation of our organisation.
The financial results for 2017 provide a solid base to achieve our 2020 ambitions and successfully deliver the strategy that we have set for ourselves.
Structured around two complementary priorities, this strategy should enable us to capture the full potential of an evolving integrated bancassurance model, while at the same time diversifying our drivers for growth and applying innovation on every part of the insurance value chain in order to seize opportunities offered by the transformational changes underway in the market.

Philippe Perret, Chief Executive Officer of Societe Generale Insurance.