PARIS, May 4, 2001 (PRIMEZONE) -- AGF Group:
AGF Group revenues for first quarter 2001 stood at 4.69 billion euros, a 3.4% increase (+0.4% on a comparable basis*) Premium income from insurance rose 2.7% to 4.24 billion euros (-0.6% on a comparable basis) Highlights -- Life and health (savings, family and personal protection, retirement): -- After an especially strong 1st quarter 2000, business in France pulled back, although less than the market, owing to weaker financial markets; -- Europe (excluding the Netherlands) was down somewhat; -- South America stayed strong. -- Non-life: growth in France and abroad continued, mainly because of rate recoveries and robust business in South America. -- Non-life bancassurance was buoyant. -- Transnational businesses (assistance and credit insurance) moved forward. -- Banking and finance made strong progress. Banque AGF had 83,000 customers with assets under management of nearly 460 mn euros.
* Comparable basis: at constant foreign exchange (premium income at 31-03-01 calculated on the basis of exchange rates at 31-03-00), and pro-forma (premium income at 31-03-01compared with 31-03-00 using the 2001 scope of consolidation).
For the complete release, go to the following attachment: http://www.primezone.com/prline/ca_1t2001_va.doc.