S&P Global Ratings upgrades Crédit Agricole Assurances, its operating subsidiaries and subordinated debts by 1 notch
30 November 2023 - 8:41AM
S&P Global Ratings upgrades Crédit Agricole Assurances, its
operating subsidiaries and subordinated debts by 1 notch
Press release
Paris, November 30th 2023
S&P Global Ratings upgrades Crédit
Agricole Assurances, its operating subsidiaries and subordinated
debts by 1 notch
On November
29th 2023, S&P Global Ratings
announced that it had upgraded the financial strength ratings of
Crédit Agricole Assurances, its operating subsidiaries Predica and
Pacifica, and its subordinated debts issues by one notch. The
outlook for all entities is stable.
|
Previous rating |
New rating |
Crédit Agricole Assurances |
A - |
A |
Predica and Pacifica operating entities |
A |
A+ |
Subordinated debt |
BBB |
BBB+ |
According to S&P Global Ratings: "The
implementation of revised criteria has a positive impact on the
financial strength of the Credit Agricole Assurances (CAA) group.
We raised our long-term issuer credit and financial strength
Ratings to 'A+' from 'A' on CAA's main operating subsidiaries
Predica and Pacifica. The stable outlook reflects our view that,
over the next two years, CAA group will consolidate its profitable
leadership in French life insurance and continue to strengthen its
French P/C insurance position, posting a P/C combined ratio
(loss and expense) well below 100%. We also forecast capital
adequacy will remain at the 99.95% confidence level, under our
model."
About Crédit Agricole
AssurancesCrédit Agricole Assurances, France’s largest
insurance Group, unites together Crédit Agricole’s insurance
subsidiaries. The Group offers a range of savings, retirement,
health, personal protection and property insurance products and
services. They are distributed by the Crédit Agricole’s banks in
France and in nine other countries around the world by financial
advisers and multi-line insurance agents. The Crédit Agricole
Assurances companies serve individuals, professionals, farmers and
businesses. Crédit Agricole Assurances has 5,700 employees. Its
premium income at the end of 2023 amounted to €35.3 billion (IFRS).
www.ca-assurances.com
Press contactsNicolas Leviaux +33 (0)1 57 72 09 50
/ 06 19 60 48 53Julien Badé +33 (0)1 57 72 93 40/ 07 85 18 68
05service.presse@ca-assurances.fr |
Investor Relations contactsYael Beer-Gabel +33
(0)1 57 72 66 84Victoire-Emmanuelle Prud’homme +33 (0)1 43 23 90
66Valentin Lecomte +33 (0)1 43 23 59
76relations.investisseurs@ca-assurances.fr |
- CP_CAA_NOTATION_SP_ENG_Vdef
Credit Agricole SA 4.5% ... (EU:CAAA)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
Credit Agricole SA 4.5% ... (EU:CAAA)
Historical Stock Chart
Von Mai 2023 bis Mai 2024