Standard and Poor’s raises Covéa Insurance’s financial strength rating
10th December 2015
Covéa Insurance is pleased to confirm that its Standard and Poor’s (S&P) financial strength rating has been upgraded to A+ stable. The rationale behind the upgrade reflects the rating agency’s opinion on the group’s improving performance, which covers Covéa Group and its guaranteed companies.
The rating action reflects the solid operational risk profile on the back of successful growth of the group, its position in response to regulatory changes and the continuing prudent and profitable growth, whilst maintaining strong capital adequacy.
The A+ rating with a stable outlook is further affirmation of the Company’s stability, giving their brokers and partners added confidence in their long-term ability to deliver high quality products and service.
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 policyholders, generating over 16.5 billion Euros in premium in 2014.
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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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