Le Foyer S.A.

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1951-1981 Le Foyer head office (onthe corner of rue Guillaume and routed’Esch in the city of Luxembourg)Mr Marc Lambert,President and Chief Executiveof Le Foyer, CompagnieLuxembourgeoise d’Assurances,President of Le Foyer FinanceMr Jules Keip,Director(1958-1972)
Non-life insuranceStrong revenue growth in Luxembourg and Belgium.Sharp increase in serious bodily injury claims in the motorcivil liability segment.Claims exacerbated by a hailstorm.Improved results in non-motor segments.Robust growth in net profit.Le Foyer Assurances posted revenues of € 201.32million in 2003, a 6.1% increase on 2002. This figure includes€ 33.5 million of premium income from captive business.In Luxembourg, motor insurance premium receipts rose5.8% to € 95.07 million.Premium receipts for fully comprehensive Tous RisquesAuto motor insurance policies advanced by a particularly satisfactory9.2%, thanks to our flagship product, mobilé, which remainshighly competitive in terms of both the increased breadthof insurance cover and the associated services it offers. Increasingnumbers of customers are taking out insurance policies that provideprotection against damage to their vehicle and keeping suchpolicies for longer: 45% of our policies for individual customerscover material damage and 75% cover fire, theft and glassbreakage.27Although claims frequency declined, the June 2003 hailstormhad a negative impact on claims.Revenues in motor civil liability rose 2.2%. Policy issuancegrew at a faster pace than the number of cars on Luxembourg’sroads. Although there were fewer property and bodilyinjury claims, serious bodily injury claims rose sharply. As a result,we fully support all existing and future measures taken by thegovernment to reduce road accidents.
Page 1: Le Foyer S.A.Annual Report 2003
Page 5: Tribute toMr Marc LambertMr Marc La
Page 9 and 10: 2003 consolidated financial highlig
Page 11 and 12: Board of DirectorsLe Foyer, Compagn
Page 13: ManagementGeneralManagement::Franç
Page 16: Mr Ernest Hamélius(founder member)
Page 19 and 20: Mr Max Lambert(founder member),Vice
Page 21 and 22: Consolidated management reportConso
Page 23 and 24: Revenues grew 6.2% to € 203.58 mi
Page 25 and 26: In individual insurance, growth slo
Page 27: Thanks to the economic upturn and r
Page 31 and 32: Among Le Foyer Assurances’ subsid
Page 33 and 34: OutlookFollowing the sharp decline
Page 35 and 36: 1925 - Foundation ofLe Foyer’s Be
Page 37 and 38: Foyer Re reported a € 6.88 millio
Page 39 and 40: Following an 11.8% increase in 2002
Page 41 and 42: Asset ManagementProfits buoyed by r
Page 43: 1990 - Financial restructuring culm
Page 46 and 47: 44Consolidated balance sheetat 31.1
Page 48 and 49: 46Consolidated balance sheetat 31.1
Page 50 and 51: 48Consolidated profit and lossaccou
Page 56 and 57: Notes to the consolidated accountsa
Page 58 and 59: Companies included in the scope of
Page 60 and 61: 11 (a) Conversion of items denomina
Page 62 and 63: 11 (h) Accounts receivableAccounts
Page 64 and 65: 11 (l) Accounts payableAccounts pay
Page 66 and 67: Land, buildings and installations13
Page 68 and 69: Other financial investments15 The p
Page 70 and 71: Special items with a share in reser
Page 72 and 73: Geographical breakdown of life prem
Page 74 and 75: June 2000 - Stock market flotation
Page 76 and 77: Appropriation of profitAt the Annua
Page 78 and 79:
76Balance sheetat 31.12.2003ASSETSN
Page 80 and 81:
78Consolidated profit and loss acco
Page 82 and 83:
In the event of lasting diminution
Page 84 and 85:
Shareholders’ equity6 Movements i
Page 86 and 87:
AgentsAgents and Employees of Le Fo
Page 88 and 89:
Le Foyer S.A.fax: +352 43 83 22www.
Page 91:
An English version of the Le Foyer
Page 96:
www.lefoyer.lu
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Le Foyer S.A.

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