Sustainable growth

Drive sustainable growth is the first pillar of our strategic plan Lifetime Partner 24: Driving Growth

The first strategic pillar aims to pursue growth that is both sustainable and profitable: increasing profitability and growing revenues from our existing activities remain the backbone of our strategic vision. To achieve this goal, we will rely on three key levers based on a set of strategic actions to be accomplished.

First lever

We will boost our P&C revenue and maintain our best-in-class technical margins in order to deliver a compound annual increase of more than 4% in P&C non-motor gross written premiums. We will do this by improving our market share in segments with significant growth potential, such as SMEs, Senior Care in Europe, and Travel in the US. We will also leverage our leadership in the Health market to take advantage of growth opportunities, going beyond traditional medical reimbursement plans. Everything begins with wellness and prevention: rewarding healthy behaviours is vital to face the key drivers of major diseases. The next priority is making healthcare more accessible, leveraging on our comprehensive range of services, including telemedicine, home care and digital symptom checkers.

Second lever

We will grow our Life capital-light business, technical profits and ESG products range, with the aim of delivering between € 2.3 and € 2.5 billion of New Business Value by year-end 2024, result that will be achieved by continuing to invest in our unit-linked business, while further internalizing margins. In addition, we will strengthen protection as a de-risking tool for investment solutions and expand the range of ESG propositions.

Third level

We will underpin growth with effective cost management in our established insurance markets and we will focus additional investments on Asian growing markets and on fee-based businesses like Europ Assistance, continuing to develop our distribution capabilities in the Asset Management space at the same time. In our core European insurance markets, our expense reduction targets will fully offset expected inflation, leading to overall flat expenses.

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Our Activities

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Performance by segment

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