APRIL (EPA:APR) APRIL’s sales increased by 1.9% in the first half of 2012
Transparency directive : regulatory news
23/07/2012 17:59
Click here to download pdf version
PRESS RELEASE
Lyon, 23 July 2012
APRIL's sales increased by 1.9% in the first half of 2012
(IFRS - EURm) H1 2012 H1 2011 Change
Consolidated sales 384.81 377.77 + 1.9 %
- Brokerage commissions and fees 249.50 248.14 + 0.5 %
- Insurance premiums 135.30 129.62 + 4.4 %
Pro-forma consolidated sales* 384.81 378.81 + 1.6 %
- Brokerage commissions and fees 249.50 249.19 + 0.1 %
- Insurance premiums 135.30 129.62 + 4.4 %
APRIL recorded consolidated sales of EUR 384.81 million in the first half of
2012, corresponding to an increase of 1.9 % on a reported basis and of 1.6 %
on a pro-forma basis. Brokerage commissions and fees increased by 0.5 % in the
period and insurance premiums by 4.4 %.
By division, Health & Personal Protection recorded almost stable sales of
EUR249.13 million, with a small +0.2 % increase in brokerage commissions and
fees but a decrease of 0.7 % in insurance premiums. The group's Swiss
subsidiary (in the midst of a turnaround) and, to a lesser extent, the Italian
subsidiary penalised the division's performance, Health & Personal Protection
activities in France remaining upbeat.
Property & Casualty recorded a + 5.4 % increase in sales to EUR 140.17 million,
with brokerage commissions and fees up 1.2 %, including notably a double-digit
increase for niche wholesalers in France. Property & Casualty insurance
premiums increased by 15.2 %, involving fronting for controlled risks with a
very slight retention rate, in the service of the Group's brokers.
International activities are benefiting from the strong momentum stemming from
the development of a leading global network in mobility insurance and
assistance, which corresponds to the strategic axis defined for the group's
international expansion.
The second quarter was marked by the first-time consolidation of MediCare
International, a British wholesale broker specialising in health insurance for
expatriates, acquired by the Group in April. Asia Assistance Partners, a
company specialised in medical assistance and medical claims handling in Asia,
acquired on 16 July, will be consolidated as from the third quarter.
Sales by division
(IFRS - EURm) H1 2012 H1 2011 Change H1 2011 Change
pro forma *
Health & Personal Protection 249.13 249.44 -0.1% 249.82 - 0.3 %
Commissions and fees 155.66 155.34 +0.2% 155.73 0.0 %
Premiums 93.47 94.09 -0.7% 94.09 -0.7 %
Property & Casualty 140.17 133.03 +5.4% 133.69 + 4.8 %
Commissions and fees 94.54 93.42 + 1.2% 94.08 + 0.5 %
Premiums 45.64 39.61 + 15.2% 39.61 + 15.2 %
Intra-group eliminations - 4.49 (4.70) (4.70)
Quarterly sales
(IFRS - EURm) 2012 2011 Change 2011 Change
pro forma *
1st quarter 191.36 184.08 +4.0% 186.47 +2.6%
2nd quarter 193.45 193.69 -0.1% 192.34 +0.6%
3rd quarter - 187.72 - - -
4th quarter - 191.94 - - -
Total - 757.44 - - -
* Pro-forma consolidated sales represent sales at the same consolidation scope
as for the period under review.
APRIL GROUP will publish its fist half results on 30 August 2012 after the
market closes.
APRIL GROUP (Compartment B, Deferred Settlement Service) is France's leading
wholesale insurance broker. It was created in 1988 and employs nearly 4,000
people in 37 countries. In 2011, it recorded sales of EUR757.4 million.
Contact
Jean-Marc Atlan / EKNO
Advisor to the CEO
+33 (0)6 07 37 20 44
jean-marc.atlan@ekno.fr
Changing the image of insurance