Covéa Insurance's financial strength rating upgraded
16th December 2014
Covéa Insurance is pleased to confirm that its Standard and Poor’s (S&P) outlook rating has been upgraded to A ‘Positive.’ The rationale behind the rating upgrade is given in S&Ps latest research report, which covers Covéa Group and its guaranteed companies.
The rating action reflects the view that the management across the combined Covéa group of companies is successfully building on the group’s already strong business risk profile and very strong financial profile.
It is suggested that if the Covéa Group continues to grow prudently and profitably whilst maintaining its strong capital adequacy, S&P may be in a position to further increase this rating within the next 12-24 months.
Covéa Insurance is a UK based guaranteed subsidiary of Covéa. Covéa is the leading French mutual insurance group that provides protection to more than 11 million people. Its turnover in 2013 was 15.5 billion Euros.
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About Covéa Insurance
Covéa Insurance Plc is the UK underwriting business of a leading French mutual insurance group Covéa.
Covéa Insurance is independently accredited by the Institute of Customer Service, with a ServiceMark Distinction for its entire UK operation. It also holds Chartered Insurer status for its Commercial business.
Covéa Insurance is signatory to the HM Treasury Women in Finance Charter and the Insurance Inclusivity Pledge, and has been named one of the top 75 employers in West Yorkshire & the Humber. Covéa Insurance is a multiple award winner in Diversity & Inclusion and Customer Champion of the Year, and for the fifth consecutive year, received 5-star accreditation in the Insurance Times Broker Service Survey for Personal Lines.
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