Groupama has received a boost with the news that Standard & Poor's has affirmed its single 'A' long-term insurer financial strength and counterparty credit ratings.
Standard & Poor's credit analyst Yann Le Pallec said: "The ratings are based on Groupama's very strong and resilient capitalization, strong business position, and recovering operating performance."
Le Pallec added: "Consolidated capitalization is expected to remain at least in the high 'A' range. Groupama contribution to top-line growth is viewed as a longer-term prospect."
An S&P statement added that despite the negative environment in the equity markets, the group's capitalization is very strong.
The statement said: "It is expected to remain comfortably in the high 'A' range over time."
