Moody's points out that this rating "reflects the combined financial strength of the entire Covéa group".
The agency 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).”
Thierry Derez, Chairman and CEO of Covéa, states:
"This recognition of the commitment of all Covéa teams and of the quality of our business model places us among the top-rated global players. It also strengthens our strategy of growth in the corporate market and development in the international risk market".