Report
Carine Maciol

CNP Assurances : Promising reorientation of the business model

CNP Assurances proved remarkably resilient amidst the crisis in 2020, while engineering a shift in its business model and ringing in 2021 with attractive growth prospects. We reiterate our Stable credit opinion, confident in: 1/ the group's ability to shift its business mix in France towards more lucrative products that are less sensitive to interest rates; and 2/ the solidity of the credit, bolstered by decent capitalisation and substantial reserves which, together, lead to a so...
Underlying
CNP Assurances SA

CNP Assurances is an insurance company. Co. designs, develops, distributes and manages savings, pension & personal risk, and term creditor products. Co. offers savings products and insurance against the risks of everyday life to its customers. Co.'s operations are organized along three business segments. The Savings business concerns products enabling policyholders to build up capital which they can cash in. The Pensions business concerns products designed to enable policyholders to receive an annuity or lump sum on retirement. The Personal Risk business includes products enabling policyholders to insure against the risks of death, accident or illness, property damage or liability claims.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Carine Maciol

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Matthias Desmarais
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