FXB: Groupama downgrade does not reflect UK profitability
Groupama Insurances chief executive François-Xavier Boisseau, pictured, has defended the strength of the "ring-fenced" UK business and claimed that "good progress" towards a sale is being made, after the group's security rating was downgraded.
Standard & Poor's lowered Groupama Group's security rating from BB to BBB-, stating that the company's moves to improve capital adequacy by reducing its exposure to equity and property risk, selling
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