S&P Global Ratings upgrades Covéa to 'AA-', outlook stable

Jan 21, 2020, by Covea

S&P Global Ratings has raised the financial strength rating of Covéa Coopérations and its guaranteed entities from ‘A+’ to’ AA-‘, with a stable outlook.

This rating upgrade is based on Covéa’s continuously increasing financial strength, on the group’s leadership in the French property/casualty market and its demonstrated ability to generate stable income.

Thierry Derez, Chairman and CEO of Covéa, said:

“This rating truly acknowledges the commitment of the Covéa teams, the quality of our business model and the strong reputation of our three brands (MAAF, MMA et GMF). It also confirms the relevance of our development strategy in our markets and our aim to diversify internationally”.