French insurer CNP Assurances SA aims to achieve an organic growth of at least 5% in earnings before interest and taxes in 2018, compared to the 2017 baseline, as it reported full-year 2017 net profit attributable to owners of the parent of €1.29 billion, up from €1.20 billion a year ago.
EPS for 2017 increased to €1.80 per share, compared to €1.64 in the previous year. The company's EBIT stood at €2.89 billion in 2017, compared to €2.64 billion in 2016.
Premiums written for the year totaled €32.46 billion, up from €31.78 billion in 2016. Earned premiums rose on a yearly basis to €32.08 billion from €31.49 billion.
Group premium income stood at €32.18 billion, compared to €31.53 billion in 2016. In France, premium income for the year decreased to €22.82 billion from €24.25 billion in 2016, while premium income from international operations stood at €9.31 billion, compared to €7.28 billion in 2016.
The group's net insurance revenue stood at €3.05 billion in 2017, compared to the year-ago €2.78 billion. The net insurance revenue from France was €1.72 billion, up from €1.60 billion in 2016, while net insurance revenue from Latin America stood at €1.08 billion, compared to €938 million in 2016. Net insurance revenue from the European operations, excluding France, amounted to €258 million, compared to €245 million in 2016.
Claims and benefits expenses totaled €37.54 billion in 2017, up from €35.73 billion a year earlier.
The combined ratio was improved to 82.5% in 2017 from 83.5% in 2016.
The return for equity for the year was flat at 8.0%.
The group's consolidated solvency capital requirement coverage ratio stood at 190% at the end of 2017, compared to 177% at 2016-end.
The insurer's board of directors proposed to increase the dividend for 2017 to 84 cents per share from 80 cents per share in 2016.
CNP also confirmed its plan to make €5 billion of new investments in energy and environmental projects by 2021.