S&P Global Ratings, Moody's and A.M. Best acknowledge the quality of Covéa as a sound counterparty.

Rating in a nutshell

Agencies Financial strength rating Outlook Last Update
S&P Global Ratings AA- Stable 21/01/2020
Moody's Aa3 Stable 27/05/2019
A.M. Best A (Excellent) Stable 26/09/2019

S&P Global Ratings opinion

S&P Global Ratings’ decision to raise Covéa’s rating from A+ to AA- relies on “the Group’s capital adequacy, considered as exceptional“, “its leading competitive position in the property/casualty market in France” and “its ability to generate stable profits“.

Moody's opinion

Moody’s states that “the Aa3 IFSR on Covéa Cooperations reflects primarily Covéa’s outstanding level of capitalisation, the Group’s leading position in the French P&C market and the strong recognition of its three main brands (MAAF, MMA and GMF)”.

A.M. Best opinion

A.M. Best highlights that “Covéa’s strongest balance sheet assessment is underpinned by the Group’s consolidated risk-adjusted capitalisation, which is categorised as strongest per Best’s Capital Adequacy Ratio (BCAR), a conservative and liquid investment portfolio, and a prudent reserving practicies.

The rating agency also underlines that “Covéa has a strong presence in the French market, with a large, well-established member base and strong distribution capabilities.


  • Covéa 2018 annual report

    pdf 728.49 KB Learn more
  • Covéa anti-bribery code of conduct

    pdf 367.46 KB Learn more
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