Groupama hit with S&P downgrade to BBB-


Groupama has suffered a ratings downgrade at the hands of Standard & Poor's despite the France-based insurer announcing a range of key strategic actions designed to halt the recent slide.

The ratings services firm has lowered its long-term counterparty credit and financial strength ratings on Groupama and its guaranteed subsidiaries to 'BBB-' from 'BBB'. At the same time, Standard & Poor's lowered its long-term ratings on Groupama GAN Vie to 'BB+' from 'BBB'. In addition, we lowered our issue ratings on Groupama's hybrid capital issues to 'BB' from 'BB+'. An S&P statement read: "The downgrade reflects our view that Groupama's capital adequacy and regulatory solvency are at weak levels amid highly adverse financial markets, in spite of key strategic actions that the co...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes



Already a Professional Adviser member?


More on PMI


Bupa rolls out full mental health cover to individual market

Time limits removed

Adam Saville
clock 07 June 2019 • 1 min read

VitalityHealth launches 'comprehensive' mental health package

Unlimited CBT and counselling

Adam Saville
clock 07 February 2019 • 2 min read

April UK withdraws from UK health insurance market

'Existing PMI customers will require advice'

Adam Saville
clock 19 July 2018 • 1 min read