CNP Assurances : Press release CNP Assurances- meeting of the board of directors- 27 July 2018

Paris, 27 July 2018

Meeting of the Board of Directors, 27 July 2018

During the meeting of CNP Assurances' Board of Directors on 27 July 2018, Frédéric Lavenir's decision to resign from his position for personal reasons, effective as of 31 August, was formally recorded.

The Board of Directors unanimously paid tribute to the remarkable work that Frédéric Lavenir has accomplished during the course of the six years he has spent as CEO of CNP Assurances.

Furthermore, following advice from its remunerations and appointments committee, the Board of Directors has decided to appoint Antoine Lissowski as temporary CEO, effective as of 1 September 2018. Antoine Lissowski will remain in this temporary position until a new CEO is appointed.

The Board of Directors has announced that a recruitment firm has been appointed to assist in choosing a new CEO.

The Board of Directors reiterated that it has full confidence in the abilities of its management teams, and indeed in of all CNP Assurances employees to continue implementing CNP Assurances' growth strategy.

Jean-Paul Faugère, chairman of CNP Assurances' Board of Directors said: 'I am sorry to see Fréderic Lavenir go after six years of constant and friendly collaboration. CNP Assurances owes him a great deal. Alongside the management team, I will be keen to ensure our company's continuity and momentum to the benefit of its customers, partners and employees, with the support and confidence of all of its directors'.

Eric Lombard, CEO of Caisse des Dépôts said: 'I would like to pay tribute to everything that Frédéric Lavenir has accomplished as CEO of CNP Assurances since 2012. In spite of persistently low interest rates in Europe, CNP Assurances' net profits in 2017 were the highest since its IPO. This confirms the suitability of its strategy to expand the product mix and to develop the multi-partnership business model. The contribution that Frédéric Lavenir has made to CNP Assurances was essential for its transformation and digitisation. Caisse des Dépôts is committed to continuing to develop CNP Assurances as a listed, multi-partnership bancassurance company'.