Groupama is hoping to save its rating

Groupama has recently carried out numerous operations in an effort to save its rating following the recent threats expressed by Standard & Poor’s. The insurer risks seeing its BBB rating downgraded by two notches. An agreement has therefore been signed with the Caisse des dépôts et Consignation (CDC), allowing rapprochement between the land companies of both groups (Silic and Icade) and creating an important player of the real estate sector. Groupama will, meanwhile, collect a holding gain of 600 million EUR (775 million USD).

CDC will also inject 300 million EUR (387 million USD) of equity funds in Gan Eurocourtage, a Groupama brokerage company. The French insurer has also achieved capital gains of 250 million EUR (323 million USD) out of real estate sales and 400 million EUR (516 million USD) on state–debts cessions. Sales of shares worth 500 million EUR (646 million USD) have also been realized.