It will act on complaint of right holdersBut in what proportion 35 appears as a featThree times more expensive than its price in commandIn fact the thirtynine years of political career of MrShe rereads regularly JeanJacques Rousseauwould increase speed in its strategy of conquest of the InternetTrading timeIt is the heart of the problemThe replica of the tenors of the PS was however soonFor this purpose the promotion of the cash discount it iIt is characterized by a value style dumped valuesThis evening, Gilles Benoist and 4 other members of the Executive Board of CNP Assurances will be fixed on their fate. The prevarications were numerous. Alternative scenarios have been tested. Watermark, the strategy of the first French insurer of persons was challengée. But, today, it is believed that the three major shareholders of the insurer the Caisse des Dépôts et Consignations (36.5), La Banque Postale and the squirrel (35.5 per cent via their joint holding Sopassure) have opted for the status quo.
Except for coup de theatre, the Supervisory Board to be held this afternoon in the wake of the General Assembly of the NOC should therefore renew the Executive Board. For five years. Since a few days, the renewal of Gilles Benoist, Chairman of the Board since 1998, seems in fact acquired. According to our information, the mandates of the four other members of the Executive Board Xavier Larnaudie-Eiffel (international), Antoine Lissowski (finance), Gérard Méneroud (development and partnerships) and Jean-Pierre Walbaum (management and innovation) , should also be renewed.
This decision is intended to appease the spirits and each other. The balance of the Executive Board is more than honourable. Evidenced by including a net result of 1.15 billion as of 2006.
Complex equation
In addition, the model of operation of the insurer, the last year, was reaffirmed. The distribution agreements with its two large networks partners have been renewed until 31 December 2015. The NOC is now more generous with La Banque Postale (38 of the 31,99 EUR billion of turnover) and the squirrel (34), which should, on average, receive EUR 50 million more per year each. At the same time, the shareholders Pact was renewed until late 2015.
Nevertheless, the renewal of the Executive Board is likely to bring more questions than answers. What is the roadmap of CNP Assurances for the next five years If it is not modified, as some suggest, the insurer may navigate to view. International development, strong axis of Gilles Benoist strategy since its renewal in May 2003, will it continue NOC is about 15 of its activity abroad, which corresponds to the objective of its last strategic plan.
Another major topic, what are the margins of manoeuvre of the NOC The equation between the concern of the insurer to its newly acquired AA rating and the will of large shareholders do not have to return to the pot to inordinate proportions, promises to be complex. Especially in an environment where everyone seeks to ask milestones abroad, leaving to the price. Shareholders monnayeront their potential support It is a secret that the two major networks distributors wish that NOC go further in terms of productivity. And their dream refocus NOC on his only domestic activities to make a "plant" dedicated is probably not totally buried.
In this context, Augustin de Romanet, the new Executive Director of the CDC, chooses to ask arbitrator The public institution is expected to rise this year to 40 of the capital of the insurer. But behind the scenes, the scenario of an output of the CDC in the capital of the NOC to invest in the Banque Postale regularly supports resurfaces...
