Crédit Agricole Assurances Reports Record Revenue and Increased Profit for 2024

Paris – Crédit Agricole Assurances has announced its financial results for the full year 2024, revealing strong performance across all its business lines. The company reported a record revenue of 43.6 billion euros, marking a 17.2% increase compared to the previous year. Net inflows reached 6.6 billion euros, and the group's net profit grew by 11.5% to 1.96 billion euros.

These results reflect the company's strategy to address heightened customer needs for protection amidst environmental uncertainties. Crédit Agricole Assurances highlighted its focus on customer experience, achieving high satisfaction rates in savings, retirement, and property & casualty insurance. Digital service enhancements were noted, allowing customers greater autonomy in managing their savings and claims.

The company also underscored its commitment to environmental responsibility. Through its damage insurance subsidiary Pacifica, it launched a home insurance offering that prioritizes repair or the use of refurbished appliances after a claim. Additionally, it introduced "Fonds Euro Objectif Climat," an eligible investment fund under SFDR Article 9, aimed at supporting the transition to a low-carbon economy.

Crédit Agricole Assurances reinforced its dedication to reducing the carbon footprint of its investment portfolios, setting ambitious targets for emission reduction by 2029. New sector policies, particularly concerning the oil and gas industry, were implemented to support investments in renewable energy and the low-carbon transition. This commitment is further evidenced by a project for a new office building in Paris, designed to meet the highest environmental certifications.

The company's robust 2024 performance positions it as a significant player in the insurance and savings sector. Its prudential ratio under Solvency II regulations remained strong, exceeding 200%.