CNP Assurances S.A. http://www.alacrastore.com/company-snapshot/CNP_Assurances_S_A-1093814 Saturday, August 30, 2008 8:22:46 AM 1093814 CNP Assurances S.A. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/617556spcred/617556normThe latest Full Report from S&Pglobalstructuredpubfin12/5/2007 10:39:00 AM400Full Report617556FranceLife & Health InsuranceEurope, Middle East, AfricaGlobal IssuersStructured FinancePublic FinanceFinancial InstitutionsInsuranceCorporationsInternational Public FinanceAsset-Backed SecuritiesCollateralized Debt ObligationsAsset-Backed Commercial PaperCommercial MBSResidential MBSFull ReportVery strong competitive position in the French life insurance market Very strong investment and asset liability management practices Support from largest shareholder Caisse des Dépôts et Consignations Sensitivity of capitalization to capital markets Only-strong operating performance for the current ratings The ratings on CNP Assurances, France's leading life insurer, reflect the group's very strong competitive position in the French life insurance market, very strong investment asset liability management (ALM) practices, as well as solid financial flexibility. The ratings also include support from CNP's largest shareholder, state-owned Caisse des Dépôts et Consignations (CDC; AAA/Stable/A-1+). Partially offsetting these strengths are CNP's only strong capitalization and operating performance. Standard&Poor's Ratings Services considers the company's risk management practices to be adequate. CNPFRA40301020 403010 4030 40CNP Assurances326087EUROMIDAFRCNP@FPFULLITAPRTFRA12800912800L12800M1280E21280E31280E51280E690466RF13109T9513RT9517RT9517UT95180T95189T9518BT9518RT9518YT9519GT951ABT951ATT951CK40101010 401010 4010 4040102010 401020 4010 4040203010 402030 4020 4040301040 403010 4030 40Caisse des Depots et ConsignationsUniCredit SpACaisse Nationale des Caisses d'Epargne et de PrevoyanceGlobal Cia de Seguros S.A. (Unsolicited Ratings)La Banque Postale106123340988119728110053351791ASIAEMERGINGEUROMIDAFRLATAMERICAUSA226562Z@FP220638Z@FP211398Z@FP220638Z@FPUC@IMGLOBISSSTRUCPUBFINFIINSCORPGOVSABSCDOABCPCMBSRMBSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/617516spcred/617516normThe latest Summary from S&Pstructuredpubfinglobal12/5/2007 10:39:00 AM175Summary617516FranceLife & Health InsuranceEurope, Middle East, AfricaGlobal IssuersStructured FinancePublic FinanceInsuranceCorporationsInternational Public FinanceAsset-Backed SecuritiesCollateralized Debt ObligationsAsset-Backed Commercial PaperCommercial MBSResidential MBSFinancial InstitutionsSummaryThe ratings on CNP Assurances, France's leading life insurer, reflect the group's very strong competitive position in the French life insurance market, very strong investment asset liability management (ALM) practices, as well as solid financial flexibility. The ratings also include support from CNP's largest shareholder, state-owned Caisse des Dépôts et Consignations (CDC; AAA/Stable/A-1+). Partially offsetting these strengths are CNP's only strong capitalization and operating performance. Standard&Poor's Ratings Services considers the company's risk management practices to be adequate. CNP has a unique business model, benefiting from very strong support and operational links with its shareholders CDC, Groupe Caisse d'Epargne (GCE, central body Caisse Nationale des Caisses d'Epargne et de Prévoyance or CNCE, AA/Negative/A-1+) and La Banque Postale (AA-/Stable/A-1+). ThisFRA40301020 403010 4030 40CNP Assurances326087EUROMIDAFRCNP@FPSUMMARYITAFRA12800912800L12800M1280E21280E31280E51280E690466RF13109T9513RT9517RT9517UT95180T95189T9518BT9518RT9518YT9519GT951ABT951ATT951CK40101010 401010 4010 4040102010 401020 4010 4040203010 402030 4020 40UniCredit SpACaisse des Depots et ConsignationsCaisse Nationale des Caisses d'Epargne et de PrevoyanceLa Banque Postale106123340988119728110053ASIAEMERGINGEUROMIDAFRLATAMERICAUSA226562Z@FPUC@IM220638Z@FP211398Z@FPGLOBISSSTRUCPUBFININSCORPGOVSABSCDOABCPCMBSRMBSFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/614236spcred/614236normThe latest News from S&P11/20/2007 4:32:23 PMNews100global614236FranceLife & Health InsuranceEurope, Middle East, AfricaGlobal IssuersFinancial InstitutionsInsuranceNewsPARIS (Standard&Poor's) Nov. 20, 2007--Standard&Poor's Ratings Services said today that it has affirmed its 'AA' long-term counterparty credit and insurer financial strength ratings on France-based life insurer CNP Assurances. The outlook is stable. "The ratings reflect the group's very strong competitive position in the French life insurance market, very strong investment and asset-liability management practices, as well as solid financial flexibility," said Standard&Poor's credit analyst Virginie Crepy. "The ratings also include support from CNP's largest shareholder, state-owned Caisse des Depots et Consignations." "Partially offsetting these strengths are CNP's only strong capitalization and operating performance," said Ms. Crepy. The company's risk management practices are considered adequate. The stable outlook reflects our expectations that CNP willFRA40301020 403010 4030 40CNP Assurances326087EUROMIDAFRCNP@FPNEWSGLOBISSFIINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/614237spcred/614237normThe latest Research Update from S&P11/20/2007 4:32:23 PMResearch Update175global614237FranceLife & Health InsuranceEurope, Middle East, AfricaGlobal IssuersFinancial InstitutionsInsuranceResearch UpdateOn Nov. 20, 2007, Standard&Poor's Ratings Services affirmed its 'AA' long-term counterparty credit and insurer financial strength ratings on France-based life insurer CNP Assurances. The outlook is stable. The ratings reflect the group's very strong competitive position in the French life insurance market, very strong investment and asset-liability management (ALM) practices, as well as solid financial flexibility. The ratings also include support from CNP's largest shareholder, state-owned Caisse des Depots et Consignations (CDC; AAA/Stable/A-1+). Partially offsetting these strengths are CNP's only strong capitalization and operating performance. The company's risk management practices are considered adequate. Major ratings factors: Very strong competitive position: CNP has a unique business model, benefiting from very strong support and operational links with its shareholdersFRA40301020 403010 4030 40CNP Assurances326087EUROMIDAFRCNP@FPRESUPDGLOBISSFIINSCredit & Investment ResearchS&P Credit Research