Paris, 6 June 2018
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
- the group’s very strong market position in the French life insurance market,
- a low liability risk profile thanks to a low average guaranteed rate on traditional savings product,
- a very stable level of profitability, as well as
- 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.”