CNP Assurances

Regulatory Filings • Dec 7, 2022

Press Release

Paris, December 7th 2022

S&P Global Ratings revises its outlook for CNP Assurances

S&P Global Ratings has announced that it has revised its outlook for CNP Assurances from stable to negative.

This revision follows action on the French government's outlook which has implications for La Poste Group, La Banque Postale and its subsidiary CNP Assurances.

S&P said "We view CNP Assurances as a core entity to La Poste Group and so any rating action on La Poste would affect CNP Assurances. We also believe that, over the next 12-24 months, CNP Assurances will retain its strong market position, including geographical diversification of its business footprint".

CNP Assurances SA's rating remains unchanged:

Credit rating agency	S&P Global Ratings
Financial strength Rating	A+
Tier 2 and Tier 3 Subordinated Notes Rating	A
Restricted Tier 1 Subordinated Notes Rating	BBB+

About CNP Assurances

A leading player in the French personal insurance market, CNP Assurances operates in 19 countries in Europe, particularly Italy, and in Latin America – where it is very active in Brazil, its second-largest market. As an insurance, coinsurance and reinsurance provider, CNP Assurances has more than 36 million insured parties in personal risk/protection insurance worldwide and more than 11 million in savings/pension. In accordance with its business model, its solutions are distributed by multiple partners and adapt to their physical or digital distribution method, as well as to the needs of customers in each country in terms of their protection and convenience. As a responsible insurer and investor that is working towards an inclusive and sustainable society and taking action to protect as many people as possible, CNP Assurances included its corporate mission in its articles of association on 16 April 2021.

CNP Assurances is a subsidiary of La Banque Postale. It reported net profit of €1,552 million in 2021.