CNP ASSURANCES (EPA:CNP) - Moody’s assigned its A1 financial strength rating with stable outlook to CNP Assurances

Transparency directive : regulatory news

06/06/2018 19:26

PRESS RELEASE

Paris, 6 June 2018

Moody's assigned its A1 financial strength rating with stable outlook to CNP
                                  Assurances

In a constant effort to strengthen the long-standing relationship of trust with
its policyholders, its distributing partners and its bond creditors, CNP
Assurances has entrusted Moody's rating agency with rating its financial
strength* in addition to the rating assigned by S&P Global Ratings since 2006.

On 6 June 2018, Moody's assigned to CNP Assurances its A1** financial strength
rating with stable outlook, which is one-notch higher than the A rating with
stable outlook currently assigned by S&P Global Ratings.

In its analysis, Moody's noted: "CNP's credit profile is supported by
(1) the group's very strong market position in the French life insurance
market,
(2) a low liability risk profile thanks to a low average guaranteed rate on
traditional savings product,
(3) a very stable level of profitability, as well as (4) a very good financial
flexibility owing to a strong shareholder, Caisse des Dépôts et Consignations
(Aa2 positive), which owned 40.8% of CNP's shares as of 31 December 2017."

Antoine Lissowski, Deputy Chief Executive Officer, Finance, of CNP Assurances,
said:
"The assignment of an A1 rating to CNP Assurances by Moody's underlines the
Group's positioning among the most solid insurance companies in Europe, its
strong competitive position and its excellent financial flexibility. The new
rating assigned by Moody's, in addition to the rating assigned by S&P Global
Ratings, will also improve CNP Assurances' visibility to bond investors."

* CNP Assurances was advised during this process by Morgan Stanley as rating
advisor.
** The A rating assigned by Moody's means that the CNP Assurances Group is
subject  to a low credit  risk.  The modifier  1 indicates that  CNP Assurances
is in the high end of the A category.

About CNP Assurances

CNP Assurances is France's leading personal insurer with net profit of EUR1,285
million in 2017. The Group also has operations in other European countries and
in Latin America, with a significant presence in Brazil. It has more than 38
million personal risk/protection insureds worldwide and more than 14 million
savings/pensions policyholders. For 160 years, CNP Assurances has been
protecting people against the risks of everyday life. The Group designs and
manages life insurance, pension, personal risk insurance and protection
products (term creditor insurance and health insurance).

- In France, CNP Assurances distributes its individual insurance products
through La Banque Postale and the Caisses d'Epargne, as well as through its own
network, Amétis. In Brazil, its second largest market, the Group's partner is
Caixa Econômica Federal, the country's second-biggest state-owned bank.

- In group insurance, CNP Assurances crafts tailor-made personal risk, pension
and term creditor insurance products that are aligned with the needs of
companies, local authorities, mutual insurers, non-profit organisations, and
banks, in Europe and Latin America.

CNP Assurances has been listed on the first market of the Paris Stock Exchange
since October 1998 and has a stable shareholder structure thanks to the signing
of an agreement between its major shareholders (Caisse des Dépôts, La Banque
Postale, Groupe BPCE and the French State).

Contacts

Press

Florence de Montmarin      / +33 (0)1 42 18 86 51
Tamara Bernard             / +33 (0)1 42 18 86 19

servicepresse@cnp.fr

Investors and analysts

Vincent Damas              / +33 (0) 1 42 18 71 31
Jean-Yves Icole            / +33 (0) 1 42 18 86 70
Typhaine Lissot            / +33 (0) 1 42 18 83 66
Julien Rouch               / +33 (0) 1 42 18 94 93

infofi@cnp.fr

Follow us on: Twitter, Linkedin, Facebook

CNP ASSURANCES's latest news

25/04/2024 07:30

CNP ASSURANCES (EPA:CNP) - Moody’s assigned its A1 financial strength rating with stable outlook to CNP Assurances

Transparency directive : regulatory news

CNP ASSURANCES's latest news

Other stories