Email Research
Thank you for your interest in sharing Moody's Research. You have reached the daily limit of Research email sharings.
Thank you!
You have successfully sent the research.
Please note: some research requires a paid subscription in order to access.
Global Credit Research - 28 Feb 2013
Paris, February 28, 2013 -- L'année 2013 s'annonce assez comparable à l'année
2012 pour le secteur français de l'assurance, indique
Moody's Investors Service dans une nouvelle étude publiée
ce jour. Les augmentations de tarif seront encore de mise dans
la branche dommage, même si la conjoncture économique
difficile va accentuer les contraintes sur les assureurs. S'agissant
de la branche vie, l'activité d'assurance vie
traditionnelle continuera à marquer le pas et le contexte économique
et politique ne sera toujours pas propice au développement de sources
alternatives de revenus. Les assureurs sont également susceptibles
d'être sollicités au titre de la réduction des
déficits publics ou de la relance de la croissance économique,
avec une possible incidence négative sur leur qualité de
crédit.
Intitulée « French Insurance: P&C Stable; Life
Negative », cette étude est désormais disponible
sur www.moodys.com et consultable pour les abonnés
Moody's à partir du lien indiqué à la fin de
ce communiqué.
« Les perspectives économiques en France demeurent défavorables,
notamment en raison d'une faible demande intérieure.
Dans ce contexte, les assureurs pourront plus difficilement relever
leurs tarifs ou développer les ventes de produits d'assurance
non obligatoires. Ils risquent aussi d'être confrontés
à une augmentation des rachats dans un but de consommation »
précise Benjamin Serra, VP - Senior Analyst qui signe
cette étude.
En 2012, souligne Moody's, la collecte nette d'assurance-vie
est pour la première fois devenue négative en raison du
ralentissement des versements et de l'accélération
des retraits. L'agence ne s'attend pas à une
accentuation de ces tendances en 2013, mais plutôt à
une stabilisation de la situation. « Pour accroître
leurs bénéfices, les assureurs doivent désormais
tabler sur de nouveaux produits. Or le contexte politique actuel
et la conjoncture macroéconomique ne contribuent pas à créer
les conditions les plus favorables pour qu'ils puissent pleinement
tirer parti des opportunités de croissance qui existent actuellement.
Nous estimons que les assureurs seront, sur le long terme,
en proie à un déclin de leur rentabilité s'ils
ne commencent pas à développer d'autres sources de
revenus et bénéfices futurs », explique Benjamin
Serra.
En France, la politique budgétaire du gouvernement pourrait,
d'après Moody's, être préjudiciable aux
compagnies d'assurance. Depuis 2010, ces dernières
ont régulièrement contribué à la réduction
des déficits publics, tant à travers le durcissement
des impôts et des taxes existantes que par le biais de contributions
ponctuelles. Au vu des incertitudes sur l'évolution
des finances publiques françaises et de la rentabilité relativement
satisfaisante des assureurs, Moody's n'exclut pas le
risque que ces derniers soient de nouveau mis à contribution.
Par ailleurs, le gouvernement va dans les prochains mois engager
une réforme sur la fiscalité de l'épargne longue,
avec des décisions susceptibles de concerner l'activité
d'assurance vie et de peser sur la qualité de crédit
des compagnies d'assurance.
Les abonnés peuvent accéder à l'intégralité
de ce rapport en cliquant sur le lien http://www.moodys.com/research/French-Insurance-PC-Stable-Life-Negative--PBC_150833
NOTE EXCLUSIVEMENT DESTINÉE AUX JOURNALISTES : Pour plus
de précisions, veuillez contacter l'un de nos services
presse suivants : Londres +44-20-7772-5456,
New York +1-212-553-0376, Tokyo +813-5408-4110,
Hong Kong +852-3758-1350, Sydney +61-2-9270-8141,
Mexico 001-888-779-5833, São Paulo 0800-891-2518
ou Buenos Aires 0800-666-3506. Vous pouvez également
nous contacter par courrier électronique à mediarelations@moodys.com
ou vous rendre sur notre site internet www.moodys.com.
Benjamin Serra
Asst Vice President - Analyst
Financial Institutions Group
Moody's France SAS
96 Boulevard Haussmann
Paris 75008
France
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454
Simon Harris
MD - Financial Institutions
Financial Institutions Group
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454
Releasing Office:
Moody's France SAS
96 Boulevard Haussmann
Paris 75008
France
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454
Moody's : France - Perspective stable pour l'assurance dommage et négative pour l'assurance vie
No Related Data.
© 2013 Moody's Investors Service, Inc. and/or its licensors and affiliates (collectively, "MOODY'S"). All rights reserved. CREDIT RATINGS ISSUED BY MOODY'S INVESTORS SERVICE, INC. ("MIS") AND ITS AFFILIATES ARE MOODY'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND CREDIT RATINGS AND RESEARCH PUBLICATIONS PUBLISHED BY MOODY'S ("MOODY'S PUBLICATIONS") MAY INCLUDE MOODY'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MOODY'S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS AND MOODY'S OPINIONS INCLUDED IN MOODY'S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. CREDIT RATINGS AND MOODY'S PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. NEITHER CREDIT RATINGS NOR MOODY'S PUBLICATIONS COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. MOODY'S ISSUES ITS CREDIT RATINGS AND PUBLISHES MOODY'S PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided "AS IS" without warranty of any kind. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources Moody's considers to be reliable, including, when appropriate, independent third-party sources. However, MOODY'S is not an auditor and cannot in every instance independently verify or validate information received in the rating process. Under no circumstances shall MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits), even if MOODY'S is advised in advance of the possibility of such damages, resulting from the use of or inability to use, any such information. The ratings, financial reporting analysis, projections, and other observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. Each user of the information contained herein must make its own study and evaluation of each security it may consider purchasing, holding or selling. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. MIS, a wholly-owned credit rating agency subsidiary of Moody's Corporation ("MCO"), hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MIS have, prior to assignment of any rating, agreed to pay to MIS for appraisal and rating services rendered by it fees ranging from $1,500 to approximately $2,500,000. MCO and MIS also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually at www.moodys.com under the heading "Shareholder Relations — Corporate Governance — Director and Shareholder Affiliation Policy." For Australia only: Any publication into Australia of this document is pursuant to the Australian Financial Services License of MOODY'S affiliate, Moody's Investors Service Pty Limited ABN 61 003 399 657AFSL 336969 and/or Moody's Analytics Australia Pty Ltd ABN 94 105 136 972 AFSL 383569 (as applicable). This document is intended to be provided only to "wholesale clients" within the meaning of section 761G of the Corporations Act 2001. By continuing to access this document from within Australia, you represent to MOODY'S that you are, or are accessing the document as a representative of, a "wholesale client" and that neither you nor the entity you represent will directly or indirectly disseminate this document or its contents to "retail clients" within the meaning of section 761G of the Corporations Act 2001. MOODY'S credit rating is an opinion as to the creditworthiness of a debt obligation of the issuer, not on the equity securities of the issuer or any form of security that is available to retail clients. It would be dangerous for retail clients to make any investment decision based on MOODY'S credit rating. If in doubt you should contact your financial or other professional adviser.
|
|