A.M. Best Upgrades Ratings of Groupama Vie and Groupama Transport Following Groupama S.A.'s 2004 Results.OLDWICK, N.J. -- A.M. Best Co. has upgraded the financial strength ratings to A (Excellent) from A- (Excellent) of Groupama Groupama Insurances is a major insurance company in the United Kingdom, with a head office in London. It has branches in Croydon, Manchester, Portsmouth, Borhamwood, and recently Letchworth, following its acquisition of Clinicare Insurance in 2005. Vie and Groupama Transport. Concurrently the issuer credit ratings have been upgraded to "a" from "a-". Both companies are subsidiaries of Groupama S.A. (Groupama) (France) and are located in France. The outlook on all ratings is stable. These actions, at the time of the publication of Group results in line with A.M. Best expectations, reflect A.M. Best's review of the role each of these subsidiaries plays within the Groupama group after factoring the synergies achieved since the reorganisation Noun 1. reorganisation - the imposition of a new organization; organizing differently (often involving extensive and drastic changes); "a committee was appointed to oversee the reorganization of the curriculum"; "top officials were forced out in the cabinet of the group in December December: see month. 2003, including the improving performance of Groupama Vie (See Rating Members of Insurance Groups at http://www.ambest.com/ratings/membergroups.pdf.) A.M. Best regards Groupama Vie and Groupama Transport as integral parts of Groupama's strategy and operations, sharing distribution channels, management and back office administration. Groupama Vie accounts for a significant contribution to the 2004 consolidated earnings, which increased 11.2% to EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 77 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 105 million), while Groupama Transport benefits from explicit support from Groupama in the form of a guarantee. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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