from CNP ASSURANCES (EPA:CNP)
Fitch Ratings affirms CNP Assurances SA’s insurer financial strength rating at A+
Press Release
Issy-les-Moulineaux, october, 13th 2023
Fitch Ratings affirms CNP Assurances SA’s insurer financial strength rating at A+
Credit rating agency Fitch Ratings has affirmed its A+ insurer financial strength rating with stable outlook and its subordinated notes ratings for CNP Assurances SA.
Fitch Ratings affirmation reflects « a strong capitalisation and leverage, very strong business profile and astable record of financial performance. These strengths are partly offset by a fairly high asset risk for the rating. »
The following table shows CNP Assurances SA current ratings:
Credit rating agency | Fitch Ratings |
Insurer Financial strength rating | A+ |
Tier 2 and Tier 3 subordinated notes rating | BBB+ |
Restricted Tier 1 subordinated notes rating | BBB- |
“Fitch Ratings' reaffirmation of the A+ Stable Outlook rating confirms the financial strength of CNP Assurances and the robustness of its business model in a rapidly changing economic and financial environment.”
About CNP Assurances
Present in 19 countries around the world, the CNP Assurances group is a benchmark player in the insurance sector, with more than 6,500 employees and net income of €1,939m in 2022 on the scope of CNP Assurances SA and its subsidiaries under IFRS 4.
Owned by La Banque Postale and member of the major public financial division, the CNP Assurances group is No. 1 in property borrower insurance and No. 2 in life insurance in France. Following the contributions in 2023 of the property insurance activities of La Banque Postale and the activities of CNP Assurances and its subsidiaries, it is now a comprehensive insurer of goods and persons. The group is the 5th largest insurer in Europe, with a presence in Italy, its second largest market after France. In Brazil, its strong development positions it in 3rd place.
In line with its multi-partner model, its solutions are distributed through long-term strategic partnerships, or under an "open" model. In total, more than 32 million people worldwide are insured by CNP Assurances for personal protection and 14 million for savings and retirement.
As a responsible insurer and investor (€400 billion invested in all sectors of the economy), CNP Assurances acts according to its raison d'être for an inclusive and sustainable society, providing the greatest number of people with solutions that protect and facilitate all life paths.
