May 15, 2020 / 5:50 AM / 23 days ago

BRIEF-CNP Assurances Q1 Attributable Net Profit Down At 299 Million Euros

May 15 (Reuters) - CNP Assurances SA:

* Q1 ATTRIBUTABLE NET PROFIT OF €299 MILLION

* Q1 EBIT OF €621 MILLION, DOWN 3.0% AS REPORTED (UP 2.6% LIKE-FOR-LIKE)

* Q1 SCR COVERAGE RATIO OF 218%

* ON CORONAVIRUS: FULL IMPACT WILL DEPEND ON HOW EPIDEMIC DEVELOPS, HOW LONG THE LOCKDOWN LASTS, AND HOW FINANCIAL MARKETS AND PERSONAL INSURANCE MARKET ARE AFFECTED

* DECLINE IN Q1 PREMIUM INCOME CANNOT BE ATTRIBUTED SOLELY TO COVID-19

* ESTIMATES EXCEPTIONAL COMMERCIAL MEASURES TO HAVE A NEGATIVE IMPACT OF EUR 50 MILLION IN Q1

* Q1 ORIGINAL CONTRIBUTION TO THE SOLIDARITY FUND HAS NOW BEEN DOUBLED TO €24 MILLION

* HAS A VERY SOLID BUSINESS MODEL AND BALANCE SHEET, AS REFLECTED IN ITS HIGH SOLVENCY RATIO Source text: bit.ly/3cA6lwg Further company coverage: (Gdansk Newsroom)

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