|
Standard
& Poor’s affirmed today the AA rating on CNP Assurances. This assessment is based on the Group’s
very strong competitive position and very strong long term financial
flexibility.
The outlook
was changed by the rating agency from stable to negative, due mainly to the
effect of the fall in the level of the capital markets on the Group’s economic
capital.
CNP
Assurances would like to reiterate, in this context, the stability in its
solvency margin (Solvency I) based on the core calculation incorporating just
equity and subordinated debt.
Calculated on this basis, the solvency margin was 117% as at 31 December
2007 and 120% as at 30 June 2008.
Press
Relations Agathe Sanson Tel : +33 (0)1 42 18 85 23 E-mail : servicepresse@cnp.fr
Investor and Analyst
Relations Jim Root
Tel : +33 (0)1 42 18 71 89
Jean-Yves Icole
Tel : +33 (0)1 42 18 94 93 E-mail : infofi@cnp.fr
Some of the statements contained in this press release may be
forward-looking statements referring to projections, future events, trends or
objectives which, by their very nature, involve inherent risks and
uncertainties. Actual results could differ
materially from those currently anticipated in such statements by reason of
factors such as changes in general economic conditions and conditions in the
financial markets, legal or regulatory decisions or changes, changes in the
frequency and amount of insured claims, particularly as a result of changes in
mortality and morbidity rates, changes in surrender rates, interest rates,
foreign exchange rates, the competitive environment, the policies of foreign
central banks or governments, legal proceedings, the effects of acquisitions and
the integration of newly-acquired businesses, and general factors affecting
competition.
Further information regarding factors which may cause results to
differ materially from those projected in forward looking statements is included
in CNP Assurances’ filings with the Autorité des Marchés Financiers. CNP Assurances does not undertake to update any
forward-looking statements presented herein to take into account any new
information, future event or other
factors.
|