In a severely deteriorated economic environment, the key strength of our business model is precisely its resistance in crisis situations and 2009 was an excellent test year in that respect. Despite the negative macroeconomic and microeconomic trends, we managed to achieve our targets and fulfil our commitments with double-digit growth in both sales and earnings. We also took advantage of the year to forge ahead with our strategy of business diversification, making the most of our distinctive competitive advantages: innovation, quality service, bulk management, network management and local distribution. The group made four acquisitions in France and abroad, Sano Concept, GENÇ Sigorta, Judicial and Flexitrans, thereby further enhancing the range of expertise and products available to our distributors and customers. All in all, APRIL’s staff made outstanding prowess in 2009 despite the particularly morose economic conditions. 

... AND ANNOUNCED THE SIMPLIFICATION OF ITS STRUCTURES. DO THESE MOVES REFLECT A CHANGE OF BUSINESS MODEL ?

I would describe it as the maturing of APRIL’s model rather than any real change. We are emerging from several years of rapid expansion reflected in numerous business creations and acquisitions, in structuring areas such as retail distribution, corporate insurance and international operations. We now need to take the time to digest, integrate and optimise these projects to give them their full meaning and strategic dimension. This also implies choices in terms of allocating resources in order to invest in key projects. This explains why we have chosen to withdraw from some activities in order to focus on the most recurring businesses where we control distribution. Simplifying our structures is another step in the same direction, reflecting our determination to give our network of businesses – in which we have more confidence than ever – all the necessary means to expand smoothly. This is the reasoning behind the restructuring and pooling of resources that we have begun to implement. In this respect, APRIL’s model is more focused than ever on the fundamental factors that have contributed to its success over the past 20 years and in an even better position to meet all the challenges ahead.

... AND WHAT IS ITS BUSINESS OUTLOOK ?

Following in the footsteps of 2009, 2010 will be another pivotal year for the Group featuring the consolidation of our core personal insurance activities, optimisation of our diversification into property and casualty insurance and concrete progress in our restructuring projects. Our health insurance activities will benefit from the excellent sales performances achieved in 2009 and the ongoing development of our own distribution network. It is also expected to be a particularly favourable period for loan insurance with the introduction of new regulations that favour consumers’ freedom of choice. In property and casualty insurance, after the strategic acquisitions made in the past three years, we shall concentrate on integrating our offers and improving the efficiency of our platforms. Lastly, at organisational level, we expect to see the first fruits of mergers and pooling of resources, both in terms of sales and marketing and at financial level. In these conditions, we expect APRIL to record another year of business growth, with satisfactory levels of profitability. Our staff will continue their work to preserve the confidence of our customers and shareholders.