la mondiale full year 2017 earnings · organizational project : umbrella sgam sgaps ag2r la...

La Mondiale

FULL YEAR 2017 EARNINGS

APRIL 2018

2

Cautionary note

Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and La Mondiale’s plan and objectives to differ materially from those expressed or implied in the forward looking statements. Please refer to “La Mondiale Rapport Financier 2017” (*) for a description of certain important factors, risks and uncertainties that may affect La Mondiale’s business and/or results of operations. La Mondiale undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise.

Unless otherwise specified, financial statements are calculated in accordancewith IFRS as adopted by the European Union.

SGAM Solvency 2 figures related to FY 2017 are estimated.

La Mondiale FY 2017 earnings

(*) available at the end of May 2018

Contents

3. A strong business model

4. Invested assets

6. Appendix

2. Group profile & business activity

5. Solvency & capital management

1. Executive summary

4

Executive summary (SGAM, as of 12/31/2017) Key player in the French Life insurancemarket

#2 in Supplementary pension#3 in Health Insurance#4 in Protection#10 in Savings

Robust balance sheetand strong solvency

224% S2 RATIO SGAM AG2R LA MONDIALE+11% compared to FY2016

277% S2 RATIO LA MONDIALE (solo) –debt issuer+21% compared to FY2016

€6,1 bn IFRS Equity capital (part of group)+€0,4bn compared to FY16+86% on 5 years

€2,7 bn Total amount of subordinated debts

€76 mn Issuance of mutual certificates(unrestricted Tier 1)

Rated A- / stable

Confirmed by Standard & Poor’s in October 2017

2017 Product mix(premiums)

Diversified & strongbusiness model

€361 mn Strong FY2017 net income

€9,8 bn Controlled decrease of

premiums on Life General Account

37%/63% Premium UL** / GA* mix

above the market28%/72%

33%/67% Liabilities UL** / GA* mix

above the market21%/79%

Sound asset allocation & risk management

4,33% High level of policyholder

of reserves surplus reserve with 2,3€bn

Less than 20% of investments ratedBBB+ or below (lower than the market)

SGAM : french prudential insurance group(*) : General Account are high capital need products, (**) : Unit Linked are low capital need products

Protection & Health

37%

63%Savings & Pensions


5

Highlights

La Mondiale has successively issued two

subordinated debts in USD

Creation of a dedicated property company

AG2R LA MONDIALE and MATMUT announced on November 28th to enter into exclusive negotiation to study the

opportunity to build a new group

Rationale of the operation :- Larger and comprehensive group on the French

market - Diversification effects - Cross-selling on existing customers

Organizational project :

Umbrella SGAM

SGAPS AG2R LA MONDIALE

SGAM LA MONDIALE

MATMUT

MATMUT and other entities

LA MONDIALE

and itssubsidaries

To be approved by the General Meetings of May / June 2018, and in case effective on January 1, 2019

Issuance of two redeemable subordinated notes 30NC10 :- Private issue of $400 million on December 19, 2017,

completed in Asia - Public issue of $310 million on January 12, 2018,

subscribed mainly by European investors

- Called AGLM IMMO- Aims to consolidate the real estate investments of

the members of the Sgam- Should hold after asset transfers more than €4.5bn

of assets


Contents


4. Invested assets

6. Appendix




AG2R LA MONDIALE organization

Full financial solidarity in

proportion of capital surplus

Savings and

Pensions

Protection and

Health

2017 premiums: €6.2bn2017 premiums: €3.6bn2017 premiums: €19.3bn

La Mondiale: €2.1bn

La Mondiale Partenaire: €1.6bn

La Mondiale Europartner: €1.7bn

Arial CNP assurances: €0.7bn

AG2R Réunica Prévoyance

ViaSanté Mutuelle

Réunica Mutuelle

Prima

AG.Mut

AG2R Retraite Agirc

AG2R Retraite Arrco

Servicing on behalf

of the public pension system

for employees

LA MONDIALE

Common sharing of resources and governance

• A Group collecting €29,0bn premium in 2017

• SGAM with €6.1bn equity

SGAM AG2R LA MONDIALE

Mandatory Additional

Pension

Scheme

7

SGAPS AG2R LA MONDIALE

• Combination of mutual or non capitalistic entities with specific governance

• SGAM and SGAPS are specific group structures for mutual and assimilated entities, allowing combination and sharing of resources

• As of January 1st 2018, SGAPS has also allowed full prudential recognition

AG2R LA MONDIALE financial solidarity

SGAM AG2R LA MONDIALE

La Mondiale(debt issuer)

60%*

100%

100%

Financial solidarity

* consolidated through use of the equity method as of 1st of April 2016

8

SCR ratio or

MCR ratio

Target 115%

125%2 levels of financial solidarity :- The 1rst level between the members of SGAPS- The 2nd level between SGAPS and La Mondiale

The financial solidarity process is the same in the 1rst and the 2nd level : if an entity solvency ratio (SCR or MCR) falls below 110%, other entities will provide extra capital in order to restore 115% solvency ratio, in proportion of their capital surplus and within the limits of their own solvency.

1rst level of financialsolidarity : between all affiliates into SGAPS

Entity 1

Entity 2Entity i

Entity 3

…


Entity 4

2nd level of financialsolidarity : between

SGAPS and La Mondiale

Trigger 110%


in proportion of capital surplus

Financial solidarity function of solvency ratios Financial solidarity - description


1 285 1 161

-98

1 163 1 038

986

FY 2015 FY 2016 FY 2017

9

Business activity (La Mondiale)

G/A 71% 71% 63%UL 29% 29% 37%

Insurance lapse ratio

Premiums (in € mn)

Net inflows (including arbitrages, in € mn)

* France (Source : Fédération Française de l’Assurance)

6,2% 5,9%6,3%

FY 2015 FY 2016 FY 2017

Premiums : -6,1% compared to FY 2016, due to :

✓ Controlled decrease GA exposure and focus on UL

✓ Savings : -21,5% voluntary decrease in General Account

✓ Pension : +29,2% mainly due to exceptional events onGroup Supplementary Pension with no impact on the netinflows

Lapse : Slight increase of the insurance claims ratio (in line with the French market), after two years at historical low

Net inflows : Controlled GA net inflows in a low interest rate environment (-60% on total net inflows compared to FY2016)

6 790 6 611 6 205

4 753 4 497

3 529

1 855 1 960

2 532

182 154 144

FY 2015 FY 2016 FY 2017

Total

Savings

Pension

Others

General Account

Unit Linked


10

Core businesses’ financial structure (La Mondiale)

Liabilities by products€79,8bn

Outstanding liabilities€79,8bn

New business breakdown (APE)€444mn

* Source : Fédération Française de l’Assurance

Retail Savings6%

Private Wealth Management

55%

Group Pension24%

Individual Pension

14%

Protection1%

General account

68%€54.6bn

Unit Linked32%

€25.2bn

Retail Savings2%

Private Wealth Management

66%

Group Pension10%

Individual Pension

21%

Protection1%

Liabilities : global growth by +5%✓ General account : +2%, compared to less than 1% for the French market*

✓ Unit linked : +11%, compared to 10% for the French market*

In 2017 UL liabilities represent 32% of total liabilities (compared to 21% for the market*)

New Business (APE) : decline by -10% compared to FY2016, but limited to -3% taking into account exceptional elements in group pension


Contents


4. Invested assets

6. Appendix




0,17 0,23 0,43 0,36 0,71 0,68 0,83

1,54 1,74

2,26

0,58%0,73%

1,20%0,95%

1,75%1,58%

1,76%

3,09%3,36%

4,33%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Profit-sharing reserve (€bn) in % of insurance liabilities

12

A strong financial performance (LA MONDIALE)

Return on equity

Consolidated net results (in €mn)Group equity capital (in €mn)

4,7%

12,2%

19,4%

11,1%

13,9%

8,1%9,0%

8,4%9,3%

8,8%

0,0%

5,0%

10,0%

15,0%

20,0%

25,0%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Consolidated Policyholder Surplus Reserves

+ €355mn

3 508 3 863

+308

-13 +57 +3

2 000

2 500

3 000

3 500

4 000

2016 FY 2017net income

Fair valueadjustment

Mutualcertificates

Otherimpacts

2017

+10% compared to FY2016x3 compared to 10 years ago

2017 net result : €308mn

Increase of policyholder surplus reserve by €520 mn

0

50

100

150

200

250

300

350

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


13

Continuous decrease of guaranteed rates

The average guaranteed rate decrease from 0.84% in 2016 to 0.79% in 2017.

€ bn


2,1%

1,8%

1,5%

1,3%

0,84%

0,79%

0

10

20

30

40

50

60

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

0% guaranteed

btw 0% and 1%

btw 1% and 2.5%

btw 2.5% and 3.5%

btw 3.5% and 4.5%

higher than 4.5%

Average guaranteedrate

Liabilities with a gross guaranteed rate above 3.5%

35% 9%

14

Savings and pensions investment spreads

+241 bps

+179 bps

Inforce business New business in 2017

Below zero long term guaranteed rate, consistent with market conditions

• Buffer of €1.3bn above minimum guaranteed rate

• Average reserves of €54.2bn

2.15%net of fees

* Weighted average based on statutory accounts

Yield on total Savings and

Pensions assets base*

Savings and Pensions average

guaranteed rate (mandatory)

Profit sharing

Yield on Savingsand Pensions fixed

income assetsSavings and

Pensions averageguaranteed rate (1rst & 2nd years)

Savings and Pensions averageguaranteed rate (after 2nd year)


3,69%

3,40%3,25%

3,13%

2,84%

2,64%

2,20%

2,15%

3,40%

3,00%2,91%

2,80%

2,54%

2,27%

1,93%1,84%

1,4%

1,6%

1,8%

2,0%

2,2%

2,4%

2,6%

2,8%

3,0%

3,2%

3,4%

3,6%

3,8%

2010 2011 2012 2013 2014 2015 2016 2017

Rémunération nette moyennepérimètre La Mondiale

Rémunération nettedes supports euros marché (FFA)

15

+29cts

+31cts

-9cts

-5cts

-44cts

-34cts

+37cts

A credited rate in line with the interest rate environment, still above the French market

Net average credited rate La Mondiale

Net average credited rate French market (FFA)


Contents


4. Invested assets

6. Appendix




17

Assets : global growth by +6.6%

✓ General account : +6.6%✓ Unit linked : + 6.9%

Assets under management have grown significantly over the last decade at an average annual growth rate of +10% since 2006

Fixed income represents 83% of General account in 2017 vs 72% in 2006

General account assets allocation€68.5bn

Outstanding assets€94bn

Historical asset allocationGeneral Account

FY 2017 asset allocation

(*)including repo (sale and repurchase agreement)

Fixed Income (*)€ 59,6 bn

87%Equities€ 5.8 bn

8%

Properties (**)

€ 3 bn4%

Others€ 0,2 bn

0%

General account assets

€ 68,5 bn73%

Unit linked assets

€ 25,5 bn27%

0 bn

5 bn

10 bn

15 bn

20 bn

25 bn

30 bn

35 bn

40 bn

45 bn

50 bn

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Property

Equity

FixedIncome


(**) IFRS figures – total value : €4.4bn

AAA12%

AA+3%

AA30%

AA-6%

A+8%

A13%

A-8%

BBB+11%

Others9%

18

Total fixed income exposure is at €54,4bn(excluding mutual funds and repo)

Limited exposure to risky investments with as less than 23% of the investments currently rated BBB+ or below

An estimated 15-year liabilities duration, but the liabilities sensitivity is however far lower and on line with the fixed income duration (7.3). This is a key strategic element of our asset management policy.

FY 2017 fixed income allocationCredit Exposure by Credit Rating

Portfolio by maturity band Credit Exposure by Issuer Type

A29%

BBB11%

AA39%

AAA12%

Sovereign28%

Guaranteed government

bonds3%

Supra / Agencies

9%Covered bonds10%

Senior Financials

16%

Sub Financials

5%

Other corporates

29%

0,0%

5,0%

10,0%

15,0%

20,0%

25,0%

30,0%

< 1 year > 1 year to 3years

> 3 to 5years

> 5 to 7years

> 7 to 10years

> 10 to 30years


19

FY 2017 fixed income allocation – Sovereign exposure

Sovereign bond exposure

Peripheral countries exposure

Total Sovereign exposure is at €15.4bn

Sovereign exposure is 28% of total fixed income exposure

France68%Peripheral

14%

Belgium9%

Austria3%

Others6%

Spain€ 1 038mn

48%

Ireland€ 526mn

24%

Italy€ 459mn

21%

Portugal€ 159mn

7%

Greece€ 0mn

0%

Total Sovereign on Peripheral countries exposure is at €2.2bn

Peripheral countries exposure is 14% of this sovereign bucket, hence only 3.9% of the total investments

High level of unrealized gains (€372mn), that allows credit shock absorption


20

FY 2017 equity investment allocation

Total Equities exposure is €5.8bn, including €1.3bn through mutual funds

2017 performance at 12.5%, after 6.5% in 2016.

An Equity portfolio well diversified by geography and sector

A focus on large liquid Equity stocks traded on the main exchange markets

Equity investment performance

Geographical breakdown (excl. mutual funds)

Breakdown by sector

60

80

100

120

140

160

180

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

La Mondiale Equity DJ Stoxx 50 (incl. dividends)

France65%

U.K.10%

Germany8%

Switzerland8%

Other9%

0% 5% 10% 15% 20% 25%

Technology

Local Government.

TMT

Commodities

Services

Oil and Gas

Health

Industry

Financial Instit.

Consumer Goods

La Mondiale Equity

DJ Stoxx 50


96%

2%

2%

Paris and Parisregion's offices

Other offices in France

Paris and Parisregion's homes

21

FY 2017 property allocationGeographic breakdown

(market value)

Annual revenue (€ per sq.m) Total performance

-5,0%

0,0%

5,0%

10,0%

15,0%

20,0%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

La Mondiale Property

IPD (french market)

0

50

100

150

200

250

300

350

400

450

500

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Total Property exposure is at €3,0bn (fair value : €4,4bn)

La Mondiale property assets represent 518 400 sq.m. and are mainly offices located in the center of or in Western Paris, i.e. only Prime Real Estate

Good rental market, especially on all recently delivered surfaces, to post a very good vacancy rate below 5%

Exceptional IPD index outperformances of 2015 and 2016 explained by the strong value creation on the deliveries of the restructured buildings


Contents


4. Invested assets

6. Appendix




Solvency 2 – SCR coverage ratio

La Mondiale solvency ratio

SGAM solvency ratio

Key Sensitivities *

The 2017 Solvency 2 ratios increase by more than 20pts for La Mondiale at 277%, and more than 10pts for Sgam at 224%.

The amount of the transitional measure on technical provision is €3.6bn for La Mondiale and €3.9bn for Sgam.

+19pts

-20pts

+5pts

Interest rate -50bps

Interest rate +50bps

Equity market -15%

UL/GA mix (+5% UL, ie 38% instead of 33%)

-9bps-9pts

In €bn

* Based on HY2017 calculation

23

Eligible own

fundsbn 10,6 €

SCRbn 5,0 €

2016

Eligible own

fundsbn 11,6 €

SCRbn 5,2 €

2017

213% 224%

Eligible own

fundsbn 8,7 €

SCRbn 3,4 €

2016

Eligible own

fundsbn 9,6 €

SCRbn 3,5 €

2017

277%256%

(estimated)


457

768

197

10

191

499

340 256

5,05%

2,56%*

6,75% 1,94%

3,00%

3,38%*7,07%*

2,58%*

24

Subordinated redemption profile1st call date breakdown (in €mn)

BoY2017 Subordinated Financial debts : €2,122mn

• € 457 mn of perpetual debt denominated in USD, with a 1st call option in 2019, restricted T1 until 2026➢Fully hedged until 2019

• € 191 mn of EUR dated debt with a 1st call option in 2024, Tier2 until 2026• € 768 mn of EUR perpetual debt, with a 1st call option in 2025, restricted Tier1 until 2026, Tier2 after• € 207 mn (197+10) of EUR perpetual debts, mostly outstanding amounts remaining from past liability

management operations, Restricted Tier1 until 2026• € 499 mn ($ 530 mn) of Reset Subordinated Notes, with a 1st call option in 2027

EoY2017 and BoY2018 Operations : €596mn Issuance of two redeemable subordinated notes 30NC10 : € 340 mn ($400 mn) with a 1st call option in December 2027 and € 256 mn ($310 mn) with a 1st call option in January 2028

* : euro equivalent issuance rate, after hedging


25

Interest coverage and Leverage

Interest coverage SGAM

Leverage SGAM

Interest coverage and Leverage remain in a satisfying range.

The issuance of $710m EoY2017/BoY2018, slightly superior to the debt of 2013, has a slight negative impact on the 2018 ratios. That would disappear from 2019 in case of call exercise of the 2013 debt.

NB : IFRS leverage doesn’t take into account €146mn of Super Subordinated Debts


Contents


4. Invested assets

6. Appendix




27

Overview of La Mondiale Balance sheet(consolidated, IFRS)

€m

TOTAL ASSETS 88 719 94 242 98 357 4,4%

Intangible assets 68 63 62 -1,4%

ow. Goodwill 56 54 52 -3,1%

Insurance investments 63 898 68 086 68 495 0,6%

Unit Linked investments 21 360 22 829 25 498 11,7%

Others assets 3 096 2 801 3 164 12,9%

Cash and cash equivalent 298 462 1 138 146,3%

FY 2017

%Change

FY 2017/

FY 2016

FY 2016FY 2015

€m

TOTAL LIABILITIES 88 719 94 242 98 357 4,4%

Equity Group Share 3 104 3 498 3 848 10,0%

Minority Interests 9 10 14 50,0%

Total Equity 3 114 3 508 3 863 10,1%

Financing debt 1 599 1 590 2 304 44,9%

Insurance and financial liabilities 77 685 82 224 85 472 4,0%

Other liabilities 6 321 6 920 6 717 -2,9%

FY 2015 FY 2017

%Change

FY 2017/

FY 2016

FY 2016


28

Overview of La Mondiale P&L account(consolidated, IFRS)

€m

Revenue 6 790 6 611 6 205 -6,1%

Financial Products 3 431 2 381 2 549 7,1%

Others 798 839 1 625 93,6%

Current operating income 11 018 9 831 10 379 5,6%

Current operating expenses -10 653 -9 470 -9 999 5,6%

Operating Income 365 360 380 5,7%

CONSOLIDATED NET RESULT 251 288 308 6,9%

o.w Group share 251 288 308 6,9%

o.w Minority Interest 0 0 0

FY 2015 FY 2016 FY 2017

%Change

FY 2017/

FY 2016


29

Private wealth and retail savingsPremiums (in €mn)

Liabilities (in €mn) La Mondiale premiums growth vs Market

Premiums : drop by -21,5%➢ Private wealth management savings : -22,4%➢ Retail savings : -10,2% ➢ Part of UL : 48% (+14% compared to FY2016, +8% for the French market)

63% through domestic partnerships, 20% via international partnerships, 13% via direct distribution channel and 4% via brokers

In a low interest rates environment, controlled decrease of premiums especially in private wealth management savings for G/A contracts

Liabilities : CAGR** of 6,6% since 2007

Index base 100 = 2008

** CAGR : Compound Annual Growth Rate

* France + Luxembourg (Source : Fédération Française de l’Assurance and Commissariat aux assurances Luxembourg)

80

100

120

140

160

180

200

2008 2009 2010 2011 2012 2013 2014 2015 2016

La Mondiale Life Market *

4 408 4 171 3 237

345 325

292

4 753 4 497

3 529

FY 2015 FY 2016 FY 2017

Private Wealth Management Retail Savings

0

5 000

10 000

15 000

20 000

25 000

30 000

35 000

40 000

45 000

50 000

55 000

20072008200920102011201220132014201520162017


30

Individual retirement plans

Premiums : Drop by -2% in 2017➢ Slight underperformance in Self employed retirement plans -6% ➢Outperformance in Popular retirement savings plan (PERP) +19%

Liabilities : ➢ Increase by +8,9% in 2017➢ CAGR of 11,8% since 2007

Market shares : ➢ #1 in 2016 (#2 in 2015)

Self employed retirement plans market share in 2016

French MarketTotal estimated premiums :

2.7 €bn

Premiums (in €mn)

Liabilities (in €mn)

* France(Source : Fédération Française de l’Assurance)

19.6%

19.6%

14.9%9.9%

5.6%

4.5%

3.5%

22.4%

Generali

#1La Mondiale

Axa

Swiss Life

Aviva

Groupama

BNP Paribas

Others

869 882 864

FY 2015 FY 2016 FY 2017

0

2 000

4 000

6 000

8 000

10 000

12 000

20072008200920102011201220132014201520162017


22.0%

17.9%

10.9%8.2%

6.5%

5.0%

4.7%

24.8%

Axa

#2La Mondiale

PredicaBNP Paribas Cardif

Generali

Sogecap

CNP

Others

31

Group supplementary pension

Group supplementary pension market share in 2015**

French MarketTotal estimated premiums :

€5.6bn

Premiums (in €mn)

Liabilities (in €mn)

***

Premiums : Growth by +17,7% in 2017, excluding exceptional elements

➢ Growth by +54,8% in 2017, including exceptional elements

Liabilities : ➢ Increase by +6,7% in 2017➢ CAGR of 6,6% since 2007

* France (Source : Fédération Française de l’Assurance)** 2016 non available*** without L.441

987 1 078

1 669

FY 2015 FY 2016 FY 2017

0

4 000

8 000

12 000

16 000

20 000

24 000

20072008200920102011201220132014201520162017


400

1269

Exceptional

SGAM AG2R LA MONDIALE long term ratings A- / stable

32

• SGAM AG2R LA MONDIALE and its 2 affiliates La Mondiale and AG2R Réunica Prévoyance have the same rating;

• AG2R LA MONDIALE (AG2R LM) has a diversified product offer backed by multi-branch approach;

• La Mondiale (AG2R LM’s core entity) has a strong brand and leading positions in high-net-worth individual savings, self-employed, and group pension contract segments;

• AG2R LM is gradually strengthening its capital in the face of ongoing pressure from low rates through : its results, the successful issuance of a new form of hybrid debt in January 2017, and the gradual increase unit-linked life policies;

• AG2R LM has carried out the work to become a prudential group within the meaning of Solvency 2, on January 1, 2018. The strengthening of financial solidarity among the members of the Group is particularly highlighted;

• AG2R LM reaffirm its strong competitive position in its markets. Its risk management, management and governance are satisfactory.

On october 5, 2017 Standard & Poor’s maintained its long-term counterparty credit and financial strength ratings on SGAM AG2R LA MONDIALE at A-.

The stable outlook on AG2R LA MONDIALE's subgroups (AG2R Réunica Prévoyance and La Mondiale) indicates S&P expect both entities to become a full prudentially regulated group under Solvency 2 and gradually strengthen its capitalization.

A-, outlook stable


33

SCR breakdown and Own funds tiering (La Mondiale)

SCR(as of 12/31/2017)

15% of diversification

benefit (1)

(1) Diversification benefit = (sum of net SCR excluding Operational risk SCR - net BSCR) / sum of net SCR excluding Operational risk SCR

Market risk 73%

Counterparty default risk

2%

Life underwriting

risk19%

Health underwriting

risk0%

Operational risk 6%

Basic Own Funds

3%

Reconciliation reserve

81%

Subordinated liabilities

(Restricted T1)17%

Breakdown of Tier 1

Tier 18 977

Tier 2645

2017 Own Funds (M€)

Tier 193%

Tier 27%

100% of own funds

Tier 1258%

Tier 219%

277% of SCR

Own funds tiering


34

André Renaudin

Chief Executive Officer

David Simon

Deputy Chief Executive Officer

(Finances, Investments, Risks)

Benoit Courmont

Chief Financial & Risk Officer

[email protected]

+33 1 76 60 87 38

Jean-Louis Charles

Chief Investment Officer

[email protected]

+33 1 76 60 99 91

Marie Deboosère

Analysis & Financial Information

[email protected]

+33 1 76 60 87 36

Contact details

Investor Relations - Contact: [email protected]

AG2R LA MONDIALE104-110, boulevard Haussmann, 75008 Paris - France

http://www.ag2rlamondiale.fr


mailto:[email protected]




http://www.ag2rlamondiale.fr/

la mondiale full year 2017 earnings · organizational project : umbrella sgam sgaps ag2r la...

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