CNP ASSURANCES (EPA:CNP) - Fitch Ratings affirms CNP Assurances’ financial strength rating

Transparency directive : regulatory news

28/06/2021 18:15

Press Release
Paris, 28 June 2021

        Fitch Ratings affirms CNP Assurances' financial strength rating

Credit rating agency Fitch Ratings has affirmed it's A+ financial strength
rating (with stable outlook) and its subordinated notes ratings for CNP
Assurances despite the unprecedented health and financial crisis.

In its press release published today, Fitch Ratings underlined that "The rating
reflects CNP's very strong business profile, strong capitalisation and leverage
and a stable record of financial performance. These strengths are partly offset
by the insurer's relatively high asset risks for the rating, and its
sensitivity to the low interest rates environment."

The following table shows CNP Assurances' current ratings:

Credit rating agency                          Fitch Ratings
Financial strength rating                           A+
Tier 2 and Tier 3 subordinated notes rating         BBB+
Restricted Tier 1 subordinated notes rating         BBB-

"The affirmation by Fitch Ratings of its A+ rating for CNP Assurances
underlines the Group's financial strength despite today's still difficult
health, economic and financial backdrop" said Stéphane Dédayan, Chief
Executive Officer of CNP Assurances.

About CNP Assurances

A benchmark player in the French personal insurance market, CNP Assurances is
active in 19 countries in Europe and Latin America, with a significant presence
in Brazil, its second largest market. Acting as an insurer, co-insurer and
reinsurer, CNP Assurances develops innovative personal risk/protection and
savings/pensions solutions. It has more than 36 million personal
risk/protection insureds worldwide and more than 12 million savings/pensions
policyholders. In line with its business model, the Group's solutions are
distributed by multiple partners. The solutions are aligned with each partner's
physical or digital distribution model, while also being tailored to local
clients' needs in each country. CNP Assurances has been listed on the Paris
Bourse since October 1998 and is a subsidiary of La Banque Postale. The Group
reported net profit of EUR1,350 million in 2020.

Contacts

CNP Assurances

Florence de Montmarin +33 (0)1 42 18 86 51
Tamara Bernard        +33 (0)1 42 18 86 19
Caroline Ceintrey     +33 (0)1 42 18 85 73

servicepresse@cnp.fr

Investors and analysts

Khalil Tabbi          +33 (0)1 42 18 65 95
Jean-Yves Icole       +33 (0)1 42 18 86 70
Typhaine Lissot       +33 (0)1 42 18 83 66

infofi@cnp.fr

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