CNP Assurances

CNP Assurances is an insurance company. Co. designs, develops, distributes and manages savings, pension & personal risk, and term creditor products. Co. offers savings products and insurance against the risks of everyday life to its customers. Co.'s operations are organized along three business segments. The Savings business concerns products enabling policyholders to build up capital which they can cash in. The Pensions business concerns products designed to enable policyholders to receive an annuity or lump sum on retirement. The Personal Risk business includes products enabling policyholders to insure against the risks of death, accident or illness, property damage or liability claims.
  • TickerCNP
  • ISINFR0000120222
  • ExchangeEuronext Paris
  • SectorLife Insurance
  • CountryFrance

Analysts

Alexandre Iatrides ...
  • Benoit Valleaux
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/24/2019

...

Carine Maciol

CNP Assurances : New Tier 2 bullet 2029 issuance …. green version

CNP Assurances is returning to the market to issue a new 2029 bullet bond, this time in a green version. The group already has a strong strategy in this area and intends to use this bond issue to make it more visible, communicate it better and develop it.> - The pricing of this new bond is likely to be tighter than that of the 30NC10, since it has two characteristics sought after by certain investors, namely (i) the bullet character, which is fairly thin of the ground in t...

Carine Maciol

CNP Assurances : Nouvelle émission de Tier 2 bullet 2029 …. en version green

CNP Assurances revient sur le marché pour émettre une nouvelle bullet 2029, en version green cette fois. CNP Assurances a déjà une réelle stratégie dans le domaine et entend par cette émission la faire connaitre, mieux communiquer dessus et la développer. - - >Le pricing de la nouvelle émission devrait être plus serré que celui des 30NC10 car elle présente deux caractéristiques recherchées par certains investisseurs, (i) le caractère bullet, qui reste assez rare dans le s...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/05/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/06/2019

...

Carine Maciol

CNP assurance : We reiterate our Buy recommendation on a selection of bonds

Monday 27 March 2017 - - - - CNP Assurances outperformed expectations in 2016, prompting it to raise its 2018 EBIT target, with the group now aiming to deliver average annual organic EBIT growth of at least 5% over the 2017-18 period compared with the 2016 baseline (vs. its forecast in 2015 for average annual organic EBIT growth of at least 5% over three years). - Many of the indicators monitored by S&P to warrant a possible upgrade have been further improved, such as: 1/ a product mix comprising more unit-linked contracts, with sales of unit-linked contracts representing 26.7% of savings...

Carine Maciol

CNP : Recommandation maintenue à l’Achat sur une sélection de souches

CNP Assurances a surperformé les attentes en 2016, ce qui l’a conduit à revoir à la hausse son objectif de RBE à horizon 2018 en affichant un objectif de croissance organique annuelle moyenne d’au moins 5% sur la période 2017-2018, à partir du niveau atteint en 2016 (vs. une estimation en 2015, d’un taux de croissance organique annuel moyen du RBE d’au moins 5% sur 3 ans). - Beaucoup d’indicateurs surveillés par S&P pour justifier un possible upgrade sont en cours d’amélioration à savoir (i) un mix-produits contenant plus d’UC, avec une part d’UC de 26.7% du CA épargne/retraite, (ii) un RN su...

Benoit Valleaux

CNP Assurances : Agreement between La Poste and BPCE and extension to distribution agreements in France

>Confirmation of multi-partner model - Yesterday evening, CNP Assurances issued a press release following the extraordinary board meeting held yesterday. The board was unanimously in favour of staying on the course previously mapped out, reiterating the following priorities: 1/ consolidation and strengthening of existing partnerships; 2/ optimisation of operating efficiency to improve its service provision to clients; and 3/ the search for new partnerships and areas o...

Benoit Valleaux

CNP Assurances : Accord La Poste/BPCE et prolongation des accords de distribution en France

>Confirmation du modèle multi-partenarial - CNP Assurances a communiqué hier soir suite à une réunion de son Conseil d’Administration extraordinaire. Les principales orientations ont été réaffirmées à l’unanimité, en rappelant notamment l'attachement prioritaire : 1/ à la consolidation et au renforcement des partenariats existants, 2/ à l’optimisation de l’efficacité opérationnelle au service des clients, 3/ à la recherche de nouveaux partenariats et territoires de dé...

Henry Heathfield

Morningstar | Disappointing 1Q From CNP

CNP Assurances reported quarterly indicators for the first quarter of 2019. Results were almost in line with our estimates and we maintain our EUR 23.0 fair value estimate and no-moat rating. Top-line growth looks a little light and mostly, CNP's push into Latin America seems to be making up for giving up ground in its other two core markets. However, we are not too concerned about these two markets currently. The French business has suffered on savings and protection. And there has been a 200-basis point contraction in the margin- on-annual premium equivalent. There have been some contract t...

Henry Heathfield

Disappointing 1Q From CNP

CNP Assurances reported quarterly indicators for the first quarter of 2019. Results were almost in line with our estimates and we maintain our EUR 23.0 fair value estimate and no-moat rating. Top-line growth looks a little light and mostly, CNP's push into Latin America seems to be making up for giving up ground in its other two core markets. However, we are not too concerned about these two markets currently. The French business has suffered on savings and protection. And there has been a 200-b...

Benoit Valleaux

CNP Assurances : Earnings slightly lower than expected

>Decline in premiums in France, strong organic growth in international markets - CNP Assurances reported its Q1 2019 results yesterday morning.Premiums amounted to € 8 549bn, down 0.7% in reported terms but up 0.6% l-f-l, slightly short of expectations. In France, premiums dropped by 1.7% to € 5.9bn, with a sharp fall in sales through the BPCE network (-21.1%). In contrast, business at CNP Patrimoine’s premium savings network increased sharply. The share of sales...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/24/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/05/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/06/2019

...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Jean Sassus
  • Louis Boujard
  • Philippe Ourpatian
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/17/2019

...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Jean Sassus
  • Louis Boujard
  • Philippe Ourpatian
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 17/05/2019

...

CNP ASSURANCES with less fundamental stars is reduced to Neutral

CNP ASSURANCES (FR), a company active in the Life Insurance industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date May 14, 2019, the closing price was EUR 20.00 and its expected value was estimated at EUR 20.63.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Carine Maciol

CNP Assurances : New Tier 2 bullet 2029 issuance …. green version

CNP Assurances is returning to the market to issue a new 2029 bullet bond, this time in a green version. The group already has a strong strategy in this area and intends to use this bond issue to make it more visible, communicate it better and develop it.> - The pricing of this new bond is likely to be tighter than that of the 30NC10, since it has two characteristics sought after by certain investors, namely (i) the bullet character, which is fairly thin of the ground in t...

Carine Maciol

CNP Assurances : Nouvelle émission de Tier 2 bullet 2029 …. en version green

CNP Assurances revient sur le marché pour émettre une nouvelle bullet 2029, en version green cette fois. CNP Assurances a déjà une réelle stratégie dans le domaine et entend par cette émission la faire connaitre, mieux communiquer dessus et la développer. - - >Le pricing de la nouvelle émission devrait être plus serré que celui des 30NC10 car elle présente deux caractéristiques recherchées par certains investisseurs, (i) le caractère bullet, qui reste assez rare dans le s...

Carine Maciol

CNP Assurances : First issuance of subordinated RT1

Publication date 19/06/2018 16:58 - Writing date 19/06/2018 16:57 - - - - - - - /Interim results on 30 July - - - - - - - - - - - - - - - - - - - CNP Assurances is due to issue shortly its first perpetual Restricted Tier 1 (RT1) note callable in 2028 and of benchmark size, rated 'Baa3/BBB-'. - We discuss in this report the key points for understanding and monitoring this new bond issue, including the distances to each trigger of non-payment of coupons and/or writedown of the princip...

Carine Maciol

CNP Assurances : Première émission de subordonnée RT1

CNP Assurances devrait émettre très prochainement sa première RT1 – Restricted Tier 1 – perpétuelle callable 2028 de taille benchmark, notée Baa3/BBB-. - Nous développons dans ce document les éléments clés de compréhension et monitoring de cette nouvelle émission, avec les distances aux différents triggers enclenchant les non-paiements de coupon et/ou dépréciation du nominal et les moyens mobilisables par CNP Assurances pour remédier à toute faiblesse. - Enfin, nous avons appréci...

MarketLine Department

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Assicurazioni Generali SpA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Assicurazioni Generali SpA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Assicurazioni Generali SpA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competiti...

Expert Corporate Governance Service (ECGS)

CNP Assurances April 18th, 2019

CNP assurances is in the process of becoming part of the French postbank ("Banque Postale"). This is detailed in the article bellow : /article/us-france-insurance-m-a/frances-la-poste-plans-to-buy-stake-in-insurer-cnp-assurances-source-idUSKBN1K2364The company made all relevant documents available to shareholders in the last day of the legal period, 21 days before the meeting.As for the board of Directors, ECGS regrets that there are not a majority of independent members

Florian Béchaz

CNP Assurances 18 Avril 2019

Tout d'abord la société est en plein processus de changement capitalistique avec le rapprochement de la Banque Postale et la société. Ce changement est résumé dans l'article suivant : /12/07/2018/lesechos.fr/0301966926903_le-rapprochement-entre-cnp-assurances-et-la-banque-postale-est-enclenche.htm Ensuite la société a publié son document de référence à la limite légale de publication soit 21 jours avant l'assemblée générale. Enfin concernant le conseil d'administration, Proxinvest regrette que ce dernier ne comporte toujours pas une majorité de membres indépendants. Cette absence de majorité...

Cnp Assurances - Assemblée générale des actionnaires du 18 avril 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

CNP Assurances – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jehanne Leroy

Proxy Report - 27/04/2018

Items 13-19: We regret that CNP Assurances did not take advantage of the mandate renewal of several of its directors in order to increase the independence rate on its Board Items 20-21: We welcome the fact that the Company decided to exclude the authorisation to repurchase shares and to issue shares with pre-emptive rights during a public takeover period and hence recommend that shareholders vote for said resolutions. Item 22: CNP requests the authorisation to issue contingent convertible securities (CoCos). Given that the potential dilution of 10% does not exceed the maximum in our guideline...

Matthieu DRIOL

Analyse court terme - CNP ASSURANCES : La tendance est baissière.

La tendance est baissière. La reprise est une consolidation. La baisse risque de reprendre jusqu'à 19,18 €. La tendance de fond serait remise en cause en cas de franchissement de 21,16 €.

Matthieu DRIOL

Short term view - CNP ASSURANCES : The trend is bearish.

The trend is bearish. The recovery is a consolidation. The fall might resume toward €19.18. The background trend would be questioned should prices rise above €21.16.

Matthieu DRIOL

Analyse court terme - CNP ASSURANCES : Les prix baissent.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 19,18 €. La tendance baissière serait remise en cause au-dessus de 21,16 €.

Matthieu DRIOL

Short term view - CNP ASSURANCES : Falling prices.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €19.18. The bearish trend would be challenged above €21.16.

Matthieu DRIOL

Analyse moyen terme - CNP ASSURANCES : La tendance est haussière.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 17,60 €. La tendance serait remise en cause par la rupture de 17,60 €.

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