PERSONAL INSURANCE EXPERTISE

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1 CALAIS LILLE VALENCIENNES ARRAS AMIENS ROUEN SAINT-QUENTIN LE HAVRE COMPIÈGNE CAEN PARIS BREST LE MANS QUIMPER LORIENT VANNES SAINT-NAZAIRE STRASBOURG CRÉTEIL MELUN CHARTRES RENNES METZ NANCY MARNE-LA-VALLÉE RUEIL-MALMAISON VERSAILLES SAINT-BRIEUC REIMS TROYES ÉPINAL MULHOUSE BLOIS ANGERS COLMAR ORLÉANS TOURS DIJON NANTES BOURGES BESANÇON NEVERS LA ROCHE-SUR-YON CHALON-SUR-SAÔNE POITIERS SAINT-BENOÎT BOURG-EN-BRESSE LA ROCHELLE ANNECY LIMOGES LYON CLERMONT-FERRAND CHAMBÉRY SAINT-ÉTIENNE PÉRIGUEUX GRENOBLE BRIVE-LA-GAILLARDE BORDEAUX BERGERAC MONTÉLIMAR GUYENNE AGEN RÉGIONAL HEAD OFFICES AVIGNON MONTAUBAN MONT-DE-MARSAN CLOSE TO 100 OFFICES DAX BAYONNE ALBI NÎMES TOULOUSE PAU TARBES AGDE AIX-EN-PROVENCE MONTPELLIER SÈTE MARSEILLE TOULON MONACO (AMRR) NICE BÉZIERS BASTIA NARBONNE PERPIGNAN SAINT-DENIS NOUMÉA FORT-DE-FRANCE CAYENNE POINTE-À-PITRE AG2R LA MONDIALE , boulevard Haussmann Paris Cedex 08, France Tel: +33 (0) PAPEETE 10/ AG2R LA MONDIALE COMMUNICATIONS DEPARTMENT- PHOTO CREDITS: LE SQUARE (FRANCK BENAUSSE) - YELLOW DOG PRODUCTION - REINDEER - AG2R LA MONDIALE DR THIS DOCUMENT IS PRINTED ON EDIXION PAPER, EU ECO LABEL AND FSC CERTIFIED, FROM ISO AND EMAS CERTIFIED PAPER MILLS regional presence PERSONAL INSURANCE EXPERTISE

2 Personal protection Health Savings Retirement 8 million policyholders and beneficiaries. 1 in 4 French businesses is a member. 60 professional or inter-professional groups have entrusted the AG2R LA MONDIALE Group with their welfare and wealth protection. 7,456 employees in France, including 1,700 advisors. 566 administrators. 138 members delegates. 300 mutual administrators united around AG.Mut. 2

3 profile OUR VOCATION: PERSONAL PROTECTION AG2R LA MONDIALE combines economic performance and social commitment through its egalitarian and mutualist values. Decisions are taken by policyholders through their representatives, who are members of the various governing bodies. AG2R La Mondiale, THE LEADER IN SOCIAL PROTECTION* As defined in the 8 July 2009 agreement on the governance of social protection equality groups, a social protection group (SPG) is an entity which comprises individuals sharing close and lasting links and which is formed, managed and controlled by the social partners. More specifically, the individuals comprising the SPG implement the mandatory and generalised supplementary pension systems grouped in Agirc and Arrco, as well as collective or individual supplementary social protection plans. The SPG has a top-level organisation managed on an egalitarian basis and includes at least one Agirc pensions institution, one Arrco pensions institution and one personal protection institution. * Source: L Argus de l assurance, 6 October AG2R LA MONDIALE has a number of specific features: a grouping of partnerships with egalitarian and mutualist governance, in which decisions are made by policyholders through their representatives sitting on the governing bodies. In a turbulent economic and financial climate, AG2R LA MONDIALE offers significant benefits: its business is for the long term, it is covered by a body of prudential regulations governing insurance companies, and in general its assets are highly diversified and managed extremely rigorously. PROTECTING PEOPLE THROUGHOUT THEIR LIVES AG2R LA MONDIALE offers its expertise across the full spectrum of personal insurance. The Group covers the full range of its policyholders social protection and property insurance needs throughout their lives. It offers individual or collective solutions covering personal protection and health insurance, savings and mandatory or optional supplementary pension and retirement benefits, regardless of policyholders age, family position and social status (employed, retired, self-employed professionals, business owners), or the business sector concerned. 3

4 offer COMPletE RANGE OF INSURANCE PRODUCTS AND SERVICES AG2R LA MONDIALE maintains close ties with its policyholders at all times. An advantage that enables it to understand their needs and adapt its offer to changes in society. TWO COMPLEMENTARY ACTIVITIES AG2R LA MONDIALE distinguishes between the management of its supplementary pension activities and its insurance sector activities. Managing supplementary pensions Historically, AG2R LA MONDIALE has fulfilled a general interest mission on behalf of the Agirc and Arrco federations, through an objectives agreement, renewed every three years, under which the Group commits to constantly improving the quality of service provided for both contributors and retirees. It manages the supplementary pensions for 3.4 million contributors in employment and 2.7 million retirees, through close relationships with more than 360,000 businesses. AG2R LA MONDIALE was a forerunner in the development and rollout of the Usine Retrait. This strategic project guided by the Agirc and Arrco social funds aims at providing all social protection groups with one dedicated IT management system by The project s core objective is to provide a consistent supplementary pensions service, while ensuring ease of use for businesses, employees and retirees, and optimising management costs. Insurance offer AG2R LA MONDIALE offers solutions geared to each policyholder s needs: personal protection insurance to protect against the hazards of daily life; disability insurance; health insurance, based on customised solutions; individual and employee savings or capital savings to finance projects and build for the future; and supplementary retirement benefits to boost retirees income. The Group also provides property and casualty insurance for policyholders through a range of property and casualty (P&C) policies, including comprehensive home, motor, legal protection and pet health insurance, as well as a range of consumer credits. 4

5 RECOGNISED EXPERTISE AG2R LA MONDIALE was the first insurer to launch an individual dependency offer, back in 1985, and has continued to enhance its range of dependency solutions since then. Its ongoing innovations in this field mean that it is now able to offer support for family members providing care. The Group has set up a community website to provide expert answers to questions raised by carers: AG2R LA MONDIALE is specialised in customised savings and wealth management advisory services. The Group s strength in this field lies in its partnerships with banks and its close relationships with independent financial advisors. With Aegon, a world leader in personal insurance, the Group is now able to offer its expertise in Luxembourg. The Group works closely with independent accountants, business lawyers, solicitors and management centres, which provide primary advisory services covering social protection to self-employed professionals (tradesmen and women, small-scale retailers, professionals, freelance workers, etc.) and the managers of small and medium-sized businesses. SOCIAL ADVICE AND PERSONAL SERVICES With its finger on the pulse of changes in society and its expertise in managing age-related needs, AG2R LA MONDIALE provides social advisory services to meet the concerns of businesses and policyholders through preventative healthcare, personal services and the provision of information to seniors in the workplace. MULTI-CHANNEL SALES NETWORK With a commercial presence throughout France, comprising close to 100 offices, 250 branches and 1,700 advisors, AG2R LA MONDIALE is able to meet the needs of all policyholders, regardless of their profile. The Group also covers the full range of distribution channels: group agreements, remote sales, brokers, and partnerships with banks and professional advisors. QUALITY The quality of its management and services enables the Group to consistently provide the most effective services to policyholders. AG2R LA MONDIALE regularly receives awards for the quality of its individual and collective products and services. FINANCIAL MANAGEMENT AG2R LA MONDIALE is committed to securing the funds entrusted to it by policyholders through its profitable and prudent approach to asset management. AMPHiTEA, A POLICYHOLDERS ASSOCIATION Ranked third in France, the Amphitéa policyholders association has 370,000 members. Its main aim is to keep members informed about all issues related to welfare and wealth protection, while contributing towards the development of new policies in order to improve the products and services they provide. Primavita, the Group s training entity focused on supporting businesses and employees in the management of age-related needs and preventative occupational healthcare, offers two training courses: Point 50 and Cap 60. These courses are an opportunity to consider issues relating to assets, health capital and life in retirement during the later stage of their working life and two or three years before retirement. 5

6 Special features THE EXPERT IN COLLECTIVE AGREEMENTS AND BUSINESS SECTORS AG2R LA MONDIALE plays an active part in the drafting of collective agreements, making its expertise available to various social partners. The Group has a longstanding presence in many business sectors. LEADER IN COLLECTIVE AGREEMENTS AND PROFESSIONAL GROUPS AG2R LA MONDIALE is involved in around 60 professional or interprofessional group agreements, through which it covers 200,000 businesses across a wide range of sectors: the food industry, hairdressing, cleaning, the furniture trade, private tuition, security and prevention, dentistry, denture laboratories, home help, rural home help (ADMR), social security bodies, etc. It owes this special feature to its close relationship with social partners and its in-depth knowledge of the specific needs of each sector. The wide range of professional groups (court bailiffs, nurses, hospital practitioners, engineers, etc.) that work with AG2R LA MONDIALE is testament to the Group s recognised know-how in welfare and wealth protection. 6

7 PREFERRED PARTNER FOR THE FOOD AND HAIRDRESSING SECTORS AG2R LA MONDIALE provides employees, employers and retires in these two sectors with cover and services tailored specifically to their profession. Food division The AG2R LA MONDIALE Group s food division offers a complete range of welfare and wealth protection for businesses in the industry, which includes 52 professional groups across four major segments: small food retailers and artisans, food processing, mass retailers, and caterers. In the food sector alone, the Group s market share exceeds 70% and more than 30% of the retirement contributions collected come from the mass retail, artisans, neighbourhood retail and food processing segments. AG.MUT, A DIVISION COMPRISING 19 MUTUAL PARTNERS Primamut, La Frontalière, Leroy Somer, Mutuelle La Bresle, Mutuelle Interprofessionnelle des Antilles et de Guyane, Mutuelle des professions judiciaires, Mutuelle de Bergerac, La Mutuelle du Midi, Mutuelle Stora Enso Corbehem, Mutuelle Nationale des Métiers, Mutuelle Force Sud, Mutuelle Servir, Mutuelle Just En Famille, Mutualis, Prado Mutuelle, Mutuelle de la Somme, Mutisica, MIPOS, MRPOSS. Dedicated institutions for hairdressing professionals Les Institutions de la Coiffure* provides cover and services tailored to the needs of the profession s employees, businesses and retirees: awareness training to help hairdressers in their daily professional lives, information campaigns on the prevention of skin and respiratory complaints as well as muscular-skeletal problems. Hairdressing is the second largest trade group in France, with 105,000 employees, 55,000 businesses and 33,103 employers; 6,000 new salons are set up each year. * It unites the three supplementary pension regimes covering hairdressing professionals: retirement (through UGRR Isica), personal protection (Institution Nationale de Prévoyance du Commerce et de l Artisanat, INPCA) and supplementary health insurance (Mutuelle Nationale des Métiers, MNM). MUTUALIST DIVISION AG2R LA MONDIALE s offer is provided through its mutualist division AG. Mut, which comprises 19 local, regional and national interprofessional mutuals, professional mutuals and business mutuals (see opposite). It covers some 900,000 people, mainly for supplementary healthcare insurance. AG. Mut offers its mutual partners the operating resources needed to ensure their development and sustainability. Each of the Group s member or partner mutuals provides invaluable insight into the expectations of French people in terms of social protection, and more specifically health insurance. 7

8 social activities and foundations CONTRIBUTING TO WELL-BEING, AT EACH STAGE OF LIFE Its social activities enhance AG2R LA MONDIALE s positioning in the social economy and affirm its values of solidarity and proximity. The Group also supports three foundations. STRONG SOCIAL ACTION AND FOCUS ON NEW CONCERNS As a complement to its personal insurance business, AG2R LA MONDIALE develops social actions aimed at prevention and support for people at all stages of their lives. As part of its role in managing mandatory supplementary pensions, AG2R LA MONDIALE manages the Agirc and Arrco social funds in line with the priority guidelines defined by the Federations. With an annual budget of nearly 35 million, focused on contributing employees, retirees and their families, this institutional social action is intended to maintain social ties and provide personal and financial support to those excluded from society as a result of illness, disability, old age, dependency, death of a loved one, unemployment, etc. STRUCTURED COMMITMENT Social action is structured around seven main fields of involvement and guided by one concrete goal: social life: contribute to the maintenance of social ties and promote an active retirement; home: contribute to supporting seniors at home and improving their quality of life if in care; health-prevention: encourage physical activity, proper nutrition and regular check-ups; disability-dependency: change society s attitude to disability and dependency, and support family carers; bereavement: comfort bereaved people and help ensure they are not cut off socially; family-income: balance family budgets and provide training in budget management; employment-training: support people in returning to employment and help them prepare for retirement. 8

9 THREE FOUNDATIONS COMMITTED TO SOCIAL INNOVATION These independent foundations have a combined annual budget of around 1.55 million and act in all fields: dependency, assistance for family carers, education, the social and solidarity economy, employment, nutrition and health, and preventative measures for occupational health. AG2R Foundation (under the aegis of Fondation de France) Its main role is to support initiatives concerning the elderly by granting an annual award to associations working towards improving living conditions for the elderly and their family carers. La Mondiale Enterprise Foundation This focuses on the social and solidarity economy, as well as education. Its role is to support innovative collective projects supporting general interests, which encourage individuals creativity and promote their independence. It works through a network of volunteer correspondents who are either employed by firms or members delegates of the mutual. Isica Enterprise Foundation The foundation supports research programmes and information campaigns in two major fields: food hygiene and occupational health prevention measures for employees in the food industry. It grants an annual award to recognise businesses and groups in the food sector that contribute towards improving consumers food practices and the well-being of their employees at work. SOCIALLY RESPONSIBLE GROUP AG2R LA MONDIALE, which signed up to the UN Global Compact in 2003, followed by the French Diversity Charter in 2007, and has been involved in developing the French insurance association s Sustainable Development Charter, applies best practices relating to its social and environmental responsibilities. In particular, over the last 10 years the Group has had an active Socially Responsible Investment policy, implemented through one of its two asset management companies, Agicam. AG2R LA MONDIALE is one of the first institutional investors in this market to have more than 1 billion of assets under management. More specifically, the asset management company has implemented a best-in-class approach to the selection of investments, in line with environmental, social and governance (ESG) standards. 9

10 organisation DEMOCRATIC AND VIRTUOUS GOVERNANCE AG2R LA MONDIALE s governance combines two organisational approaches: egalitarianism and mutualism. A democratic model that has proven its merits: serving the interests of our policyholder customers and promoting a long-term strategic vision. GUARANTEE OF TRANSPARENCY AND SECURITY FOR POLICYHOLDERS Formed from a social protection group and a mutual insurance company, AG2R LA MONDIALE s historical roots lie in the social economy as a result of its egalitarian and mutualist governance structure. The Group s values of solidarity, proximity, responsibility and democratic governance are put into practice in terms of both its organisation and its activities. AG2R LA MONDIALE is governed at national level by the Boards of Directors of the Group s various entities. These rely on the local commitment of the policyholders representatives, spread across France: the 566 administrators, 138 members delegates and the 300 mutual administrators united around the AG.Mut division. AG2R LA MONDIALE GROUP 2 top-level associations AG2R LA MONDIALE Prémalliance 4 supplementary pensions institutions: 2 Arrco institutions: UGRR Isica/IRSEA 2 Agirc institutions: UGRC/CAPICAF 3 personal protection institutions: AG2R Prévoyance Isica Prévoyance INPCA SGAM AG2R LA MONDIALE* 1 mutual insurance company: La Mondiale 2 mutual unions: AG.Mut Prémalliance Mutualité 1 insurance holding company: La Mondiale Participations (65%) 19 mutuals 8 insurance companies + 1 investment company + 2 asset management companies + 12 non-trading real estate investment companies + 3 foundations + 5 economic interest groups (GIE) + 1 management association * SGAM AG2R LA MONDIALE is a group mutual insurance company which encompasses all the Group s insurance activities through its two members: AG2R Prévoyance and La Mondiale. 10

11 DEVELOPMENT STRATEGY Since 2009, AG2R LA MONDIALE and Prémalliance have taken a new step forward by agreeing to merge. The extraordinary general meeting on 8 December 2010 approved the transfer of members of the Prémalliance management association to the economic interest group GIE AG2R, with effect from 1 January The transfer of Prémalliance s personnel, assets and commitments was finalised by the signing of a transfer agreement. The agreement signed by the toplevel organisations of the two groups sets out the policy objective of a merger by the end of In 2010: AG2R LA MONDIALE and Réunica agreed to pool their retirement benefit IT systems within the economic interest group GIE Systalians. The new platform will be operational in March 2012 and will play a significant role estimated at 25% - in the Agirc and Arrco supplementary pensions social funds. This development reflects the funds desire to rationalise their supplementary pensions IT systems in order to significantly enhance the service provided to policyholders. AG2R LA MONDIALE has been selected by Macif, a leading nonlife insurer, to pool the development of their collective personal protection and health activities. This partnership will also see the implementation of a pooled direct insurance payment platform in the health insurance field. The project to create a new institution, AG2R Macif Prévoyance, was approved at the end of September 2011 by the Coordination Committee (Agirc, Arrco and CTIP). Its activities will start on 1 January VALUES AND PRINCIPLES OF ACTION Solidarity An expression of the egalitarian and mutualist values of the Group, which support solidarity in all its forms, particularly intergenerational solidarity. Proximity With its extensive and local sales network and through the administrators of AG2R LA MONDIALE, the mutual administrators united around AG.Mut and the members delegates of La Mondiale present throughout France, the Group is constantly in touch with its policyholders, enabling their needs and expectations to be met effectively. Responsibility Social, professional, collective and individual responsibility represents not only a principle for action, but also an integral part of the identity of the Group, which bases its legitimacy and credibility on the practical implementation of the values it upholds throughout its activities. Democratic governance The administrators and members delegates, who represent the policyholders, comprise the Group s policy-making bodies. They are provided with fully transparent information and the training required for the proper exercise of their responsibilities. GROUP TIMELINE 1905 La Mondiale formed by seven industrialists from Northern France to supplement the retirement incomes of self-employed workers (tradesmen, traders, professionals) and employees of small businesses Association générale de retraite par répartition (AGRR), the first contributory retirement benefit fund for nonmanagerial staff, created on the paper industry s initiative AGRR Prévoyance, subsequently renamed AG2R Prévoyance, set up Union des mutuelles, known as AG.Mut., founded. AGRR Group renamed AG2R Group La Mondiale acquires La Hénin Vie and renamed La Mondiale Partenaire Business combination with the three mutual, retirement benefit and personal protection bodies in the hairdressing profession: La mutuelle nationale des métiers (MNM), L institution de retraite professionnelle de la coiffure (IRPC) and L institution nationale de prévoyance du commerce et de l artisanat (INPCA). AG2R and La Mondiale form Arial assurance, a joint subsidiary specialised in retirement savings and collective personal protectionhealth insurance. La Mondiale Europartner, the leading European network for collective and cross-border employee retirement savings, formed by La Mondiale and Aegon, a world leader in personal insurance Business combination between AG2R and Isica, an egalitarian group in the food sector Business combination between AG2R and Prémalliance SGAM AG2R LA MONDIALE formed Merger agreement signed with Prémalliance La Mondiale joins the top-level organisation AG2R Isica, renamed the Association sommitale AG2R LA MONDIALE. Merger of AG2R Prévoyance and Prémalliance Prévoyance under the name AG2R Prévoyance Members of the Prémalliance management association join the economic interest group GIE AG2R. 11

12 2010 KEY FIGURES AG2R LA MONDIALE GROUP 15.7 billion in contributions and premiums collected, including: 7.4 billion in Agirc and Arrco mandatory supplementary retirement benefit contributions (of which 6.1 billion in contributions and 1.3 billion in AGFF* collections) ( billion) 8.3 billion in insurance premiums and employee savings (of which 8.1 billion in revenues and 0.2 billion in employee savings contributions) ( billion) TOTAL TOTAL of which of which UGRR Isica Collecte AGFF IRSEA UGRC CAPICAF Savings Retirement Health Personal protection Employee savings Other * ASSOCIATION POUR LA GESTION DU FONDS DE FINANCEMENT LA SGAM* AG2R LA MONDIALE N.B. The following data are presented in accordance with IFRS. 8.1 billion in revenues SGAM revenues ( billion) SGAM 2010 revenues by business segment % Retirement 19% Savings 52% Health 16% * Société de groupe d assurance mutuelle Personal protection 13% TECHNICAL PROVISIONS (excluding deferred profit-sharing liability) SGAM technical provisions (balance sheet amount, billion) % SGAM 2010 technical provisions by business segment Retirement 33% Savings 59% Unit-linked contracts Health 1% Personal protection 7% Euros

13 EQUITY AND EARNINGS SGAM equity (1) ( billion) SGAM net profit (1) ( million) From 2010 operating profit (2) to net income for SGAM AG2R LA MONDIALE ( million) Operating profit (2) Financial market-related effects +13 Tax Goodwill impairment Net income +279 INVESTMENTS (3) SGAM insurance investments (balance sheet amount, billion) General assets by type (balance sheet amount, 2010) Real estate 6% Other 1% Equities 9% Unit-linked contracts General assets Bonds 84% SOLVENCY ( billion) Unrealised gains Subordinated debt positions 1 st for collective supplementary retirement benefits 2 nd for supplementary pension plans 2 nd for Madelin retirement benefits 3 rd for collective health insurance 3 rd for loss of autonomy insurance 4 th for collective personal protection insurance Adjusted equity (4) Margin requirement Admissible elements SGAM s solvency margin is covered 161%. RATING In 2011, AG2R Prévoyance and La Mondiale were independently publicly rated. They were both rated a solid A- with negative outlook by the rating agency Standard & Poor s. (1) Under IFRS (2) Operating profit corresponds to profit before tax and before marking assets to market, charges to or reversals from asset impairment provisions under IFRS, such restatements being net of deferred profit sharing. It includes the impact of reforms on the capitalisation reserve and retirement provisions. (3) All investments are marked to market, with the exception of property which is measured at acquisition cost. (4) Equity includes non-controlling interests and is adjusted for inadmissible intangible assets and deferred acquisition costs.

14 CALAIS LILLE VALENCIENNES ARRAS AMIENS ROUEN SAINT-QUENTIN LE HAVRE COMPIÈGNE CAEN PARIS BREST LE MANS QUIMPER LORIENT VANNES SAINT-NAZAIRE STRASBOURG CRÉTEIL MELUN CHARTRES RENNES METZ NANCY MARNE-LA-VALLÉE RUEIL-MALMAISON VERSAILLES SAINT-BRIEUC REIMS TROYES ÉPINAL MULHOUSE BLOIS ANGERS COLMAR ORLÉANS TOURS DIJON NANTES BOURGES BESANÇON NEVERS LA ROCHE-SUR-YON CHALON-SUR-SAÔNE POITIERS SAINT-BENOÎT BOURG-EN-BRESSE LA ROCHELLE ANNECY LIMOGES LYON CLERMONT-FERRAND CHAMBÉRY SAINT-ÉTIENNE PÉRIGUEUX GRENOBLE BRIVE-LA-GAILLARDE BORDEAUX BERGERAC MONTÉLIMAR GUYENNE AGEN RÉGIONAL HEAD OFFICES AVIGNON MONTAUBAN MONT-DE-MARSAN CLOSE TO 100 OFFICES DAX BAYONNE ALBI NÎMES TOULOUSE PAU TARBES AGDE AIX-EN-PROVENCE MONTPELLIER SÈTE MARSEILLE TOULON MONACO (AMRR) NICE BÉZIERS BASTIA NARBONNE PERPIGNAN SAINT-DENIS NOUMÉA FORT-DE-FRANCE CAYENNE POINTE-À-PITRE AG2R LA MONDIALE , boulevard Haussmann Paris Cedex 08, France Tel: +33 (0) PAPEETE 10/ AG2R LA MONDIALE COMMUNICATIONS DEPARTMENT- PHOTO CREDITS: LE SQUARE (FRANCK BENAUSSE) - YELLOW DOG PRODUCTION - REINDEER - AG2R LA MONDIALE DR THIS DOCUMENT IS PRINTED ON EDIXION PAPER, EU ECO LABEL AND FSC CERTIFIED, FROM ISO AND EMAS CERTIFIED PAPER MILLS regional presence PERSONAL INSURANCE EXPERTISE

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