Groupe des Assurances du Crédit Mutuel’s Solvency II Ratio at 218% as of June 30, 2024

Strasbourg, August 13, 2024 - The Solvency II ratio of Groupe des Assurances du Crédit Mutuel (GACM) was 218% on June 30, 2024. This marks an 8-point decrease from December 31, 2023, primarily due to the anticipated dividend payment in the second half of the year, connected to capital structure optimization efforts by GACM and Groupe Crédit Mutuel.

As of June 30, 2024, GACM’s eligible own funds amounted to 13,953 million euros, with the Solvency Capital Requirement (SCR) at 6,388 million euros. The SCR was calculated using the standard formula, with no transitional measures applied. Notably, 92% of GACM's eligible own funds for SCR coverage are categorized as unrestricted Tier 1. Meanwhile, the Minimum Capital Requirement (MCR) coverage ratio stood at 525%, down slightly from 539% at the end of 2023.

The Management Board has proposed an extraordinary dividend payment to be voted on by the GACM General Meeting scheduled for September 27, 2024.