Cardif Lux Vie publishes excellent 2014 results, confirming its position as a leading player in the Luxembourg insurance industry.
As at 31 December 2014, Cardif Lux Vie published a turnover of €2.9 billion and close to €18 billion in assets under management with a net result of €44.1 million1. Compared to 2013, the insurer thus recorded growth of 30% in its inflows, 19% in managed assets and 11% in net result. Cardif Lux Vie has recorded controlled and sustainable growth in each of its business lines, namely Wealth Management, Employee Benefits and Retail. The insurer is today well positioned to continue to deliver strong performance, thanks to comprehensive solutions with high value-added for its customers and partners.

Wealth Management: a 20% increase on 2013 inflows
For several years now, Cardif Lux Vie has been conducting an international diversification based on a selective approach to the markets, to offer customised life insurance solutions using the full range of wealth planning tools. In a still difficult economic environment, the Wealth Management business achieved a 20% increase in gross  nflows as well as largely positive net inflows. Premiums received were geographically diversified thanks to enhanced cooperation between Cardif Lux Vie and its high-end international partners who, together with their customers, contribute legal, tax and financial expertise across all the markets. Showing growth of 17%, assets under
management amounted to €16.22 billion for Wealth Management, 71% being for Units of account and 29% for the General Fund. With respect to Units of Account, Cardif Lux Vie holds a portfolio of thousands of Internal Dedicated Funds, deposited with around 100 custodian banks and managed by more than 200 asset managers.

Employee Benefits: activity up by 6%
Results for the Employee Benefits business (or Group Insurance) were very good, confirming Cardif Lux Vie’s leading position on the Luxembourg market. The company has reknowned expertise in the production of  ustomised plans, combining savings and protection solutions. This business line saw global growth of 6% compared to last year, with results actually progressing by 15% on the protection component. With its consolidated local experience, Cardif Lux Vie is now looking to expand internationally to meet the needs of multinational companies in connection with the freedom to provide services regime.

Retail: €122 million in savings inflows in the Luxembourg and Greater Region market
Successful introduction of a savings policy offer dedicated to residents of the Greater Region combined with significant acceleration in the rate of sales thanks to service digitisation, enabled sales growth of 87% and savings inflows to reach €122 million. The year 2014 was also marked by a complete overhaul of the Outstanding Balance  Insurance offer, both for private individuals and for professionals. These business results demonstrate the insurer’s ability to provide comprehensive, integrated solutions for Retail Customers via the bancassurance networks.

"Cardif Lux Vie is today proud to present improved results for the 3rd consecutive year. We have managed to strengthen our position as a major insurance player in our three business lines, each of which is showing growth. Our strong shareholders, while benefiting from our local and international foothold, provide us with the encouragement to continue to develop high quality solutions and services tailored to the needs of our customers and partners. In order to control our development in today’s complex environment, our ambitions for the coming years are clear: we must pursue selective diversification of our markets, our products and our distributors, while increasing our operational efficiency," concludes Jacques Faveyrol, CEO of Cardif Lux Vie.