from CNP ASSURANCES (EPA:CNP)
S&P Global Ratings maintains the rating of CNP Assurances SA
Press Release
Issy-les-Moulineaux, november, 09th 2023
S&P Global Ratings maintains the rating of CNP Assurances SA
S&P Global Ratings has announced that it will maintain the rating of CNP Assurances SA.
In its revue, S&P says : « CNP Assurances holds a prominent position in the French life insurance market. The company benefits from profitable joint ventures in Europe and Latin America (…). S&P Global Ratings has observed a significant shift in the business mix over the past few years toward life-protection and unit-linked products. We expect revenue from life-protection contracts will remain robust. »
The rating of CNP Assurances SA thus remains unchanged:
Credit rating agency | S&P Global Ratings |
Financial strength rating |
|
Tier 2 and Tier 3 subordinated notes rating | A- |
Restricted Tier 1 subordinated notes rating | BBB+ |
A+ (negative outlook)
“The continued rating of CNP Assurances by S&P Global Ratings confirms the financial strength and strategic orientations of the company based on a unique development model through solid partnerships and open-model activities.”
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.
