MEDIA ANNOUNCEMENT
NEWARK, CA: March 30, 2026: Covéa, France’s leading property and casualty insurer and one of the world’s top reinsurers, has announced strengthening its capabilities for climate risk modeling. Operating through its flagship brands — MAAF, MMA, and GMF — the Group continues to reinforce its leadership in risk management and innovation.
To complement its internal capabilities, Covéa has licensed Moody's RMS™ Europe Severe Convective Storm (SCS) high-definition (HD) Model, which includes the impacts of the sub-perils hail, straight-line wind, and tornadoes.
Moody’s RMS Europe SCS HD Model provides Covéa with a long-term, probabilistic view needed for strategic capital planning. This integration helps provide Covéa with a complete picture of hail risk—combining tactical claims management with scientific rigor for tail-risk quantification, enabling precise capital allocation under Solvency II and ensuring financial resilience against a peril whose frequency and severity are rising across Europe.
Adam Senio, Head of Reinsurance Cessions, at Covéa, explains:
“By dedicating 0.5% of home insurance premiums to prevention and launching climate risk prevention tools, Covéa empowers policyholders to understand their exposure to natural hazards today and ahead. Combined with Moody’s advanced modeling capabilities, these initiatives ensure Covéa can accurately quantify risk and maintain the financial strength required to protect our customers and members in an era of increasing climate volatility.”
Ursula Barnett, Director – Sales Manager, Continental Europe, from Moody’s adds:
“Catastrophe models are essential for making informed decisions, especially for capital adequacy and pricing. For perils like hail, traditional approaches leave insurers uncertain about whether risk is truly captured. Moody’s RMS Europe Severe Convective Storm HD Models change that. They deliver transparency and scientific rigor, giving companies like Covéa confidence that their capital planning is based on the actual risk and is rooted in a comprehensive understanding of this complex peril.”
ENDS
About Moody’s
In a world shaped by increasingly interconnected risks, Moody’s (NYSE: MCO) data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities. With a rich history of experience in global markets and a diverse workforce of approximately 16,000 across more than 40 countries, Moody’s gives customers the comprehensive perspective needed to act with confidence and thrive.
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Moody’s Press Contact: Kibui Pyron: kibui.pyron@moodys.com
About Covéa
Covéa is a mutual insurance group that is a European leader in insurance and reinsurance.
It is a solid and dynamic financial institution, France’s number one property and casualty insurer through its three brands MAAF, MMA and GMF, and one of the world’s largest reinsurers via its PartnerRe brand. Covéa is a major contributor to the regional economies in which it operates, through its 24,000 employees in France and around the world and protects 11.3 million customers and members in France.
Covéa Press Contact: presse@covea.fr
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