APRIL reports sales of €766.3m, down slightly by 0.8% on a like for like basis

“2014 was a year of consolidation for APRIL. In a challenging macroeconomic environment and within an increasingly demanding regulatory framework, our businesses proved their resilience.

The group is investing for the future while remaining faithful to its innovative approach and entrepreneurial culture. I would like to take this opportunity to thank the staff who make this crucial work possible, and who are as committed as ever.

We remain confident in our model; APRIL is and will continue to be a healthy and profitable international multi-specialist group resolutely focused on its customers.” said Bruno Rousset, APRIL Chairman and CEO.

The group confirms the results trends outlined at the beginning of January.

Looking at the detail, on a like for like basis and by type of revenue:

- Brokerage commissions in Health & Personal Protection amounted to €308.2m in the year to 31 December 2014, down 2.6%, still adversely affected in individual health insurance by the company’s prudent decision not to capture loss-making individual employee policies under the National Interbranch Agreement (ANI). This impact was limited by growth in mortgage and group insurance, supported by solid fundamentals in which the group is investing.

- Property & Casualty commissions totalled €172.3m, down 3.5%: sales momentum in travel insurance and assistance was adversely affected by challenging economic conditions in South America and Europe. In France, strong performance in property and casualty wholesale broking does not compensate the revenue decline in the agency network, still hindered by 2013 unfavourable trends.

- The increase in Health & Personal Protection premiums (up 2.0% to €185.6m) was driven by growth in the individual, group and expatriate health and personal protection portfolios.

- Property & Casualty premiums grew 2.1% to €108.0m as a result of new partnerships and the revival of affinity member activities within the framework of a significantly reinsured model.

Upcoming events:

- 25 February 2015 after market close: 2014 consolidated full year results

- 27 April 2015 after market close: Q1 2015 consolidated revenues

APRIL

26 January 2015