At 31 December 2016, Cardif Lux Vie had generated revenue of EUR 2.3 billion (+4.7% on 2015) and ranked second among Luxembourg insurance companies for collection[1]. The Company also passed the milestone of having EUR 20 billion in assets under management. And with net income before tax¹ of EUR 53.9 million, up more than 1.1% on 2015, Cardif Lux Vie posted solid performances by all of its business lines - Wealth Management, Employee Benefits and Retail - for the 5th year in a row.

Cardif Lux Vie confirmed its position as a major player in the Luxembourg life insurance market, with significant rates of growth in all key indicators, which take into account ongoing investments being made as part of its transformation plan (transaction security, improvement in client experience, and digitalisation).

Wealth Management: 61% of new money in units of account
Despite low interest rates and a lacklustre market, Cardif Lux Vie confirmed the success of its 2014-2016 development plan based on the international diversification of its clients' home markets, the markets on which its products are distributed, partners, and solutions proposed. The Wealth Management business registered an increase of nearly 5% in gross inflows compared with 2015, with 61% coming in units of account. It ranks second on the Luxembourg market for new money in units of account. Net inflows rose 22.3% to more than EUR 821 million. Regarding investments in units of account, the Company's portfolio holds more than 4,250 Dedicated Internal Funds, deposited with around a hundred custodians and managed by more than 230 asset managers.

Employee Benefits: life insurance up
Growth in recurrent Savings premiums, a sharp rise in Life Insurance inflows (+12.5% on 2015) and a significant amount of new business are three indications of an excellent year 2016. Cardif Lux Vie confirmed its expertise in offering bespoke solutions, as well as its position as a major player on the local market. The Employee Benefits offering was overhauled to improve the client experience, with innovations to make the range of insurance products better suited to the Luxembourg social security system.

Retail: EUR 128 million in Savings inflows on the Luxembourg market and Greater Region
In Savings, Cardif Lux Vie's Retail business registered EUR 128 million of flows into the local market (up more than 16% on 2015) and allowed the Company to establish itself as leader on the Luxembourg market for the third consecutive year. Cardif Lux Vie was able to maintain a high volume of Savings production through an offer unique to the marketplace (contract combining a wide range of units of account with an attractive general fund) and efficient running of distribution networks. The Life Insurance business also grew thanks to the marketing of new products: reshaped, clearer, and offering better value-for-money. With both Savings and Life Insurance on the local market, Cardif Lux Vie made substantial investments to continue the end-to-end digitalisation of processes.

"Cardif Lux Vie produced very good results across all of its business lines in 2016, and confirmed its position as a major player in the Luxembourg insurance business. The Company is upholding its growth forecasts by making the investments needed to remain competitive over the long term. It is accelerating its IT transformation, the necessary cornerstone of its digitalisation strategy, and maintaining its commitment to programmes for managing regulatory change and improving the partner and client experience", says Jacques Faveyrol, CEO of Cardif Lux Vie.