S&P Global Ratings affirms AG2R LA MONDIALE’s rating

29 February 2024

For the third year in a row, rating agency Standard & Poor’s (S&P) has affirmed the rating of SGAM AG2R LA MONDIALE and its core entities, including La Mondiale: “A” Outlook Stable.

S&P has highlighted the Group’s “very strong” financial position in terms of both capital and earnings.

The stable outlook reflects S&P’s view that the Group will maintain:

  • an excellent level of capital adequacy and very solid results,
  • a leading position in the French personal insurance market with diversification prospects for the future.
S&P highlights in particular:
  • the proportion of unit-linked products in 2023, considered the more profitable products for insurers, is higher than that of its peers in France (53% of the Group premium compared with an average of 41% for the French life market as at 30 June 2023);
  • a significant increase in its rates on savings products credited to policyholders, enabling it to confirm its positioning in the market;​​​​​
  • a still “exceptional” liquidity ratio, and the very high credit quality of its bond investments.
“At a time of economic and financial turbulence, this confirmation of the Group’s rating by S&P reflects the solidity of AG2R LA MONDIALE and its leading position in the field of social protection and wealth management in France. Our 23-25 Business Plan, known as ‘Nouvelle Donne’, which we have fully embraced, is progressing at a very satisfactory rate across all of our businesses,” explains Bruno Angles, Managing Director of AG2R LA MONDIALE Group.

See S&P’s analysis sheet