FY-2021 results: record net income at €223.8m and 100% pay-out ratio – QNT Press Release

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Paris, France, Feb. 17, 2022 (GLOBE NEWSWIRE) — Turnover: €1,568m, up +8.3% at constant FX and perimeter
o Trade credit insurance increased +9.7% driven by activity recovery and past repricing
o Pricing impact is still positive on the year (+0.7%) but evolution has been negative for three quarters (-2.2% cumulated)
o Information services growing +18.1% for FY-21 and +30.5% in Q4-21

Net loss ratio at 33.3% – an improvement of 14.4 ppts; Annual net combined ratio at 64.6%
o Q4-2021 net loss ratio at 50.4% (and 10.9% excluding government schemes) with continued reserve releases
o FY-21 net cost ratio improved by 0.8 ppt to 31.3% (32.1% in 2020)
o Net combined ratio at 83.0% for Q4-21
o Excluding government schemes, FY-21 net combined ratio at 54.5% and 42.7% in Q4-21. Government schemes had a negative impact of -€160m on income before tax in 2021, of which -€103m in Q4

Net income (group share) of €223.8m, of which €32.9m in Q4-21. Annualised RoATE1 of 12.2%
o…

Full story available on Benzinga.com

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