Fitch lifts Groupama view to positive

Fitch Ratings said it revised Groupama SA's outlook to positive from stable.

The agency also said it affirmed Groupama's insurer financial strength rating at A- and issuer default rating at BBB+.

The positive outlook reflects expectations that Groupama will maintain strong capitalization and leverage score in 2018, Fitch said.

The ratings also consider Groupama's very strong franchise in the French insurance sector and a significant reduction in the group's exposure to risky assets since 2011, the agency said.

Fitch said it expects Groupama to maintain its prudent asset allocation in 2018.

Offsetting these strengths is Groupama's low profitability relative to the group's rating category, the agency said.

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