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BNP Paribas Assurance Jan 10
Standard & Poors, Jan 2010
Abstract
Core positioning within BNP Paribas group. Strong competitive position in France. Strong operating performance. Only good capitalization for the current ratings, with high market risk. The ratings on the operating companies of France-based BNP Paribas Assurance group, Cardif Assurance Vie and Cardif-Assurances Risques Divers, are based on the insurance group's core positioning within French bank BNP Paribas (AA/Negative/A-1+). The ratings on the group's holding company, BNP Paribas Assurance (AA-/Negative/--) are one notch below that on the operating entities. BNP Paribas Assurance group (BNPPA) is the bank's insurance arm and key component of its Investment Solutions division. The group accounted for 3.1% of the bank's revenues and gross operating income on Sept. 30, 2009. The insurer is fully integrated into BNP...
Companies mentioned in this report are: Cardif Assurance Vie,BNP Paribas,BNP Paribas Assurance,Cardif-Assurances Risques Divers
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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