from CNP ASSURANCES (EPA:CNP)
Moody’s reaffirms « A1 » Outlook Stable rating of CNP Assurances SA
Press Release
Issy-les-Moulineaux, 13th June 2024
Moody’s reaffirms « A1 » Outlook Stable rating of
CNP Assurances SA
On June 11th, 2024 Moody’s confirmed the financial strength rating of CNP Assurances SA, as well as that of its subordinated notes.
In its press release pulished on Monday, Moody’s underlines « The credit profile of CNP Assurances is supported by the historically stable and very strong market position of the group in the French life insurance segment, and the decreasing risk profile due to the very low average guaranteed rate on traditional savings. […]. The outlook is stable, reflecting our expectation that CNP will preserve its business in France by improving product diversification, and geographic diversification. […] The continued integration with La Banque Postale and the Group's other insurance operations (all combined under the newly created CNP Assurances Holding) provides CNP Assurances with opportunities to offer new products to La Banque Postale clients and policyholders. ».
Moody’s | ||
Financial strength rating | A1/Outlook Stable | |
Tier 2 and Tier 3 Subordinated Notes rating | A3 | |
Restricted Tier 1 Subordinated Notes rating | Baa2 |
The full Moody's press release can be downloaded from the website : https://www.moodys.com/research/CNP-Assurances-Semi-annual-update-Credit-Opinion
About CNP Assurances
Present in 19 countries around the world, the CNP Assurances group is a leading player in the insurance industry with more than 7,000 employees and net profit of €1.550 billion in 2023 (IFRS 17). A subsidiary of La Banque Postale, CNP Assurances is a member of the major public financial group. In France, CNP Assurances is No. 1 in property loan insurance, No. 2 in life insurance* and, in 2023, will have integrated the property insurance activities of La Banque Postale, making it a comprehensive insurer of property and persons.
CNP Assurances is the 5th largest insurer in Europe, with particularly strong presence in Italy, and the 3rd largest insurer in Brazil. Its solutions are distributed as part of long-term strategic partnerships or as part of an “open” model. Over 36 million people worldwide are insured by CNP Assurances for personal risk/protection and 14 million for savings and pensions. CNP Assurances is a responsible insurer and investor (€400 billion invested in all sectors of the economy). It works to promote an inclusive and sustainable society by providing solutions that protect and facilitate all life journeys.
* France Assureurs 2022 key data.
