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01. MAIN DOCUMENTPARTICULIERS and 45% by Mediatis. Through a networkof franchised outlets, Assurtis distributes consumer creditproducts (renewable and redeemable personal loans,debt consolidation) and insurance policies (automobile,household, health, etc.).Résolution (now APRIL Immobilier)Résolution’s remaining capital was acquired betweenJune 30 th , 2005 and December 15 th , 2005.FG&AFG&A’s remaining capital was acquired on June 30 th ,2005.Cogealp (now ALP Prévoyance)On July 1 st , 2005, APRIL GROUP acquired a 66% interestin Cogealp, a brokerage specializing in the design andmanagement of group health and personal protectioninsurance policies for businesses, trading under the ALPbrand.Febs (now APRIL Financial Services AG)On July 6 th , 2005, APRIL Assurances acquired 74%of Febs AG’s capital. This company, based in Munich(Germany), specializes in the design and managementof insurance policies for consumer credits, notably carloansSASCOOn September 7 th , 2005, APRIL DEVELOPPEMENT (nowAPRIL GROUP DOMMAGES PARTICULIERS) acquired100% of the capital of SASCO. This brokerage firm isspecialized in the design and management of insurancepolicies for small and medium-sized businesses, notablyon property and casualty insurance.SEPCOFI / EACOn September 26 th , 2006, APRIL Solutions acquired a100% interest in the brokerage firms SEPCOFI and EAC,based respectively in Lyon and Paris. These companiesspecialize in providing advisory services and designinggroup social protection and insurance programs for staffin businesses.HabitanceOn October 5 th , 2005, APRIL Assurances and GuyHocquet (independent estate agent group) set upHabitance, a 50-50 jointly owned brokerage firmspecializing in providing insurance solutions for estateagents from the Guy Hocquet network.APRIL GermanyOn December 12 th , 2005, APRIL COURTAGE (nowAPRIL GROUP PRÉVOYANCE INDIVIDUELLE) and GoLife created APRIL Germany. 80%-owned by APRILCOURTAGE and 20% by Go Life, this company aims todevelop a business designing, managing and providingsales assistance for insurance programs througha network of independent insurers and advisers inGermany.Forum AssurancesForum Assurances’ remaining capital was acquired onDecember 15 th , 2005.1.3.4.1/6 :: In 2004CIARE SAAPRIL DEVELOPPEMENT (now APRIL GROUPDOMMAGES PARTICULIERS) acquired 100% ofCourtage industriel d’assurances et de réassuranceseuropéennes – CIARE SA and its wholly-ownedsubsidiary CIARE Investissement on April 1 st , 2004.This company is specialized in corporate property andcasualty insurance, designing and managing tailor-madeofferings for industrial and construction risks. It is basedin Lyon and Saint-Étienne.Forum AssurancesAPRIL DEVELOPPEMENT (now APRIL GROUPDOMMAGES PARTICULIERS) acquired a 90% interestin Forum Assurances on April 1 st , 2004. This brokeragecompany specializes in niche P&C insurance markets forsmall and medium-sized businesses, top-end vehiclesand comprehensive cover for buildings and offices. It isbased in Lyon.Axeria IardAPRIL GROUP acquired 100% of Rhodia Assuranceson July 8 th , 2004. This insurance company, which wasrenamed Axeria Iard, focuses primarily on property andcasualty and other risks: automobile (private vehicles,long-term rentals and fleets), comprehensive home andcontents (individuals and buildings) and professionalrisks.Axeria PrévoyanceOn December 31 st , 2004, APRIL GROUP acquired theCardif group’s 35% stake in Axeria Prévoyance. APRILGROUP now owns 100% of the company’s capital.INFORMATIONON THE COMPANY’S ACTIVITIESPART0132
01. MAIN DOCUMENT1.3.4.2 :: Investments underwayThe Company is constantly looking into opportunities forinvestments.1.3.4.3 :: Future investmentsThe Company is constantly looking into opportunities forinvestments.1.3.5 :: Management reportSee the Executive Board’s management report on page65 and following1.3.6 :: Issuer risksThe Risk Manager is responsible for the overallmanagement of risks within the Group. Within thisframework, the risk manager has been tasked to identifythe main risk factors defined in the APRIL group riskrepository, including risks relating to businesses andinsurance operations, market risks, and legal noncompliancerisks.1.3.6.1 :: Business-related risks1.3.6.1/1 :: Identification of factors and links between thebusiness carried out and the risks identifiedThe main issues identified at Group level concern(untreated risks before taking into consideration thecontrols put in place):- Key person management: within the Group, this isbuilt around not only the heads of the companies, whoguarantee the success of its entrepreneurial model,but also the technical experts, who make it possible toguarantee a relevant offering and impeccable quality ofservice for our customers;- Quality of the relationship with risk bearers: the suitabilityof insurance and reinsurance cover, the financialsoundness of risk bearers and the ability to negotiatethe best rates for our customers are central to the issuesfacing the Group in its business as a broker and insurer;- Legal and regulatory compliance: all of the Group'sbusinesses are subject to strict regulations, changesin which represent risk factors which are monitoredparticularly closely, notably in terms of insurance law,company law and accounting and tax standards;- Effective management of the functional organization:this is analyzed within the Group around the organizationand coordination of our distribution networks, thequality of the internal control procedures put in placeand the suitability of the human and technical resourcesdeployed;- Image management: ensuring the long-term viabilityof the Group's image in terms of dynamic development,innovation and the ability to offer the best products andservices at the best prices on each one of its markets.Furthermore, a working group was set up in 2009 toassess the main risks brought about or compoundedby the economic and financial crisis for each one of theGroup's business lines. The main risks identified withinthis framework are as follows:- Customer credit risk;- Insurer or reinsurer default risk;- Competition risk;- Risk concerning moves to build customer loyalty andthe corresponding additional cost;- Risk of a departure from the loss ratio;- Market risk on financial assets (covered in Section1.3.6.2 of the reference document).Follow-up actions have been put in place in order tomonitor changes in these risks in the Group's variousbusiness divisions, while prevention measures have beentaken to reduce the Group's exposure.1.3.6.1/2 :: Risk assessmentOn account of the nature of these issues, it is not possibleto make a quantitative assessment. To date, there are nosigns of the risks presented materializing and resulting inmaterial consequences at Group level.1.3.6.1/3 :: Follow-up resources and procedures put inplaceThe Risk Manager is responsible for updating the risksidentified in view of the information available, notablybased on risk mapping interviews, discussions withinsurance and brokerage risk professionals, as wellas subjects covered by members of the SustainableDevelopment Committee. The Risk manager alsoworks with the findings and recommendations issuedINFORMATIONON THE COMPANY’S ACTIVITIESPART0133
Page 4 and 5: 01MAINDOCUMENT
Page 6 and 7: 01. MAIN DOCUMENTDeputy Statutory A
Page 8 and 9: 01. MAIN DOCUMENT1.2.1.7 :: Fiscal
Page 10 and 11: 01. MAIN DOCUMENTMeetings are held
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Page 16 and 17: 01. MAIN DOCUMENT% of voting rights
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Page 20 and 21: 01. MAIN DOCUMENTDate Events 1988/2
Page 22 and 23: 01. MAIN DOCUMENTDate Events 1988/2
Page 24 and 25: 01. MAIN DOCUMENTThe companies and
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Page 28 and 29: 01. MAIN DOCUMENT1.3.4.1 :: Descrip
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Page 38 and 39: 01. MAIN DOCUMENTThe following tabl
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Page 42 and 43: 01. MAIN DOCUMENTCHAPTER 1.4NET WOR
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Page 56 and 57: 01. MAIN DOCUMENTJean- Yves NOUYCur
Page 58 and 59: 01. MAIN DOCUMENT1.5.2 :: Executive
Page 60 and 61: 01. MAIN DOCUMENTPLAN N° 9 PLAN N
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02. MANAGEMENT REPORTCHAPTER 2.2FIV
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02. MANAGEMENT REPORTsatisfactory c
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02. MANAGEMENT REPORTCHAPTER 2.4STA
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03CONSOLIDATED FINANCIALSTATEMENTS
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03. CONSOLIDATED FINANCIAL STATEMEN
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05APPENDIX
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05. APPENDIXDate Subject MediaOct 9
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05. APPENDIXObjectives:- Coordinati
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05. APPENDIXINFORMATIONREFERENCE DO
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