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Investment Market Pressure Constrains French Insurers' Efforts To Restore Profitability And Capital Adequacy Jun 10
Standard & Poors, June 2010
Strains on technical earnings, coupled with the current dampening in investment markets, are weighing on French insurers' performances, in Standard & Poor's Ratings Services view. Despite their recent moves to implement corrective actions to lift profitability and rebuild capital adequacy, we think this mix might constrain insurers' good resilience to the economic and financial downturn. Our insurer financial strength ratings on French insurers--mostly in the 'A' category--continue to reflect the sector's still-predominantly strong creditworthiness, including those companies with ratings that integrate one or more notches of uplift from the company's stand-alone credit profile, due to our expectation of support, if needed, or a guarantee from the parent. At the same time, though, we continue to foresee further potential downgrades of...
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Research Type: Commentary
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AXA France IARD,AXA France Vie,SCOR SE,Allianz Vie,AXA,Coface S.A.,Aviva Vie S.A.,La Mondiale,MMA IARD Assurances Mutuelle,Cardif Assurance Vie,Caisse Centrale de Reassurance,CNP Assurances,Chartis Europe S.A.,Euler Hermes SFAC,Prevoir Vie,Compagnie Europeenne de Garanties et Cautions,Groupama S.A.,SCOR Global Life SE,AG2R Prevoyance,La Societe Hospitaliere d'Assurances Mutuelles ,Axeria Prevoyance,Coface North America Insurance Co.,Generali Vie,BNP Paribas Assurance