Sales increased by 0.8% in the first quarter of 2013

APRIL recorded consolidated sales of €193.0 million in the first quarter of 2013, corresponding to an increase of 0.8% on a reported basis and of 0.7% on a pro-forma basis. Brokerage commissions and fees declined slightly by 0.6% to €123.5 million in the period, while insurance premiums increased by 3.5% to €69.5 million.

(€m)	Q1 2013	Q1 2012	Change
Consolidated sales	193.0	191.4	+ 0.8 %
Brokerage commissions and fees	123.5	124.3	- 0.6 %
Insurance premiums	69.5	67.1	+ 3.5 %
Pro-forma consolidated sales	193.0	191.6	+ 0.7 %
Brokerage commissions and fees	123.5	124.5	- 0.8 %
Insurance premiums	69.5	67.1²	+ 3.5 %

By division, Health & Personal Protection was stable overall in the first quarter, as there was a 2.6% increase in commissions and fees, fuelled notably by group and expatriate insurance, but a decrease in premiums linked to the outsourcing of lender risk.

Property and Casualty recorded an increase of 2.5% in sales, the 5.4% decrease in commissions and fees being more than offset by a 19.3% increase in premiums. The divisions’ brokerage activity was penalised by weaker performances by the distribution network (which is undergoing a streamlining) and by a negative currency effect amounting to around €1 million on the travel assistance activity in South America. At constant exchange rates, Property and Casualty would have recorded a 4% increase in first quarter revenue.

Note that Mobility-Assistance, identified as a strategic activity in the group’s international development, recorded growth of 7% on a reported basis and 11.7% at constant exchange rates in the first quarter.

APRIL

29 April 2013