Covéa Insurance's financial strength rating upgraded

16th December

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.




About Covéa Insurance

Covea Insurance plc is the UK underwriting business of leading French mutual insurance group Covéa, who are number 1 for property and liability insurance in France and served 11.5 million policyholders, generating over 16.3 billion Euros in premiums in 2016.  

Covéa Insurance handles the insurance needs of 1.5 million policyholders; delivering financial reassurance through its Standard & Poor’s A+ stable rating, as a guaranteed subsidiary of Covéa. 

The company offers motor, household, protection, mid and high net worth insurance and a range of commercial insurance products, designed to meet the needs of most individuals and businesses. Employing over 1500 people, Covéa Insurance has a strong people and service ethos, having Investors In People Gold accreditation and featuring in the 2015 and 2016 Sunday Times Top 100 Mid-sized Best Companies to Work For. It also has World Class service accreditation from the Institute of Customer Service for its Motor Claims, Home Claims and Underwriting Services teams as well as Chartered Insurer status for its Commercial and Mid/High Net Worth business.

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