Standard & Poor's (S&P) has affirmed the A insurer financial strength rating for Groupama Insurance Company, and removed the company from CreditWatch where it had been placed on 14 January 2004.
The ratings agency said the outlook for Groupama was stable.
The rating affirmation follows a new guarantee for Groupama Insurances from its parent company Groupama SA. The guarantee takes effect retroactively from 18 December 2003, said S&P.
S&P said the new guarantee meets its criteria and is governed by French law.
It said both the rating and outlook of Groupama Insurances reflects that of its parent company, Groupama SA.
