Crédit Agricole Assurances Achieves Record Results in Q1 2025
Crédit Agricole Assurances has reported outstanding activity in the first quarter of 2025, with record total premium income reaching €14.8 billion, a 20.7% increase from the same period in 2024. The company saw record net inflows of nearly €4.0 billion, including €1.9 billion on the General Account.
Strong Performance Across Business Lines
The company’s life insurance business was particularly dynamic in France, with a 28.3% growth in premium income. Savings and retirement premium income reached €10.8 billion, up 26.8% year-on-year. Gross inflows on the General Account totaled €7.1 billion, a 36.6% increase, while Unit-Linked gross inflows amounted to €3.7 billion, an 11.4% rise.
Net inflows set a quarterly record at nearly €4.0 billion, up €2.9 billion from Q1 2024. By product, net inflows were €2.0 billion on unit-linked and €1.9 billion on the General Account. Life insurance outstandings reached €352.4 billion at the end of March 2025, driven by strong net inflows and a positive market effect.
Property and Casualty Insurance Continues to Grow
In property and casualty insurance, gross written premiums rose 8.0% to €2.6 billion. The portfolio grew by 5.1% and exceeded 16.8 million contracts, with a net addition of 512,000 contracts over one year. Equipment rates within Crédit Agricole Group’s banking networks continued to grow year-on-year.
Solid Contribution to Crédit Agricole S.A.’s Pre-Tax Income
Crédit Agricole Assurances’ contribution to Crédit Agricole S.A.’s pre-tax income was €631 million, stable year-on-year. The combined ratio improved by 0.6 points to 93.2%, thanks to contained claims. The Contractual Service Margin amounted to €25.8 billion at the end of March 2025, up 2.2% since December 31, 2024.
Nicolas Denis, Chief Executive Officer of Crédit Agricole Assurances, stated, “In the first quarter of 2025, Crédit Agricole Assurances had continued dynamic activity across all business lines, both in France and abroad, and once again proved the usefulness and efficiency of our universal banking and insurance model.”
