Press release Paris, July 31, 2025
Record activity with highest net inflows
H1 2025 KEY FIGURES:
- Total premium income1 at a record high of €27.5 billion, up +19.4%
- Record first half net inflows2 of +€8.2 billion, of which more than half on the General Account
- Net income Group share3 of €1,016 million, up +5.8% excluding the effect of the exceptional corporate income tax
- Solvency II prudential ratio estimated at 202%
“The results of this first half of the year confirm the positive momentum observed over the past few months across all our business lines, both in France and abroad. This revenues growth, which follows a trend that is similar to the one observed last year, is driven by our clients’ needs in both savings and protection. This first half of the year was also marked by investment operations aligned with our commitment to serving the common good, such as our support for the development of Eutelsat and ADIT. More than ever, these results strengthen our commitment and reinforce our strategy at the service of our clients, our partner banks, and more broadly, of society“.
Nicolas Denis, Chief Executive Officer of Crédit Agricole Assurances
DOUBLE-DIGIT ACTIVITY GROWTH, DRIVEN BY SAVINGS AND RETIREMENT BUSINESS
In the first half of 2025, Crédit Agricole Assurances generated record total premium income1 of €27.5 billion, up +19.4% compared to the end of June 2024. Life insurance business was particularly dynamic in France (+27.8%) driven by the inflow collection of partner banks.
In savings and retirement, premium income1 reached €20.8 billion at the end of June 2025, up +24.6% year-on-year. The first half year of 2025 benefited from the full effect of the preferential profit sharing (PAB) offers on euro payments, launched at the end of the first half of 2024; these boosted gross inflows2 on the General Account to €13.9 billion (+29.5%). Unit-Linked gross inflows2 totalled €6.9 billion, up +15.9% compared to the first half of 2024. As a result, the share of Unit-Linked within gross inflows2 stood at 33.2% (-2.5 points year on-year).
Net inflows2 set a half year record of +€8.2 billion, up +€5.7 billion compared to the first half of 2024. By product, net inflows2 amounted to +€4.4 billion on the General Account and +€3.8 billion on Unit-linked.
Life insurance outstandings4 reached €359.4 billion at the end of June 2025 thanks to very strong net inflows and a positive market effect. They included €251.0 billion on the General Account (+3.2% over six months) and €108.4 billion on Unit-Linked (+4.1% over six months). Unit-Linked reserves represented 30.2% of total life insurance outstandings at the end of June 2025, up +0.2 point compared to December 31, 2024.
In property and casualty, the business continued to grow with gross written premiums1 up +8.5% compared to the end of June 2024, reaching €4.0 billion. The portfolio exceeded 16.9 million contracts and grew by +2.8%, representing a net contribution of nearly 470,000 contracts over one year; in addition to the price increases induced by climate change and the inflation of repair costs, the average premium benefited from changes in the product mix.
Equipment rates within the Crédit Agricole Group’s banks kept growing year-on-year, at the Regional Banks (44.2%5, up +0,7 point), LCL (28.4%5, up +0.6 point) and CA Italia (20.6%6, up +0.9 point).
In personal protection (death and disability / creditor / group insurance7), gross written premiums1 increased by +1.8% compared to the end of June 2024, to €2.7 billion. Group insurance (+12.0%) and individual death and disability (+4.8%) recorded good performances. Creditor insurance was down slightly (-1.4%), notably due to international consumer credit.
RESILIENT RESULTS REFLECTING BUSINESS GROWTH
Crédit Agricole …