Crédit Agricole Assurances has successfully priced 750 million euros of perpetual super subordinated “Restricted Tier 1” notes with an initial fixed annual interest rate of 5.875% under its newly established EMTN programme

Press release                Paris, June 9, 2026

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Crédit Agricole Assurances has successfully priced 750 million euros of perpetual super subordinated “Restricted Tier 1” notes with an initial fixed annual interest rate of 5.875%¹ under its newly established EMTN programme

Crédit Agricole Assurances announces today that it has priced an issuance of perpetual super subordinated Restricted Tier 1 notes (the “Notes”) in Euro, with an initial fixed interest rate of 5.875%¹ resetting in 2032, for a nominal amount of 750 million euros (the “Issue”). The transaction met strong investor demand, with subscription intentions more than 6.4 times higher than the total nominal amount of the Issue.

This transaction is part of Crédit Agricole Assurances’ active capital management policy and marks Crédit Agricole Assurances’ first issuance under its newly established Euro Medium Term Note (EMTN) programme approved by the Autorité des marchés financiers on June 5, 2026. Proceeds will be used for general corporate purposes, including financing or refinancing of current indebtedness.

The Issue has been structured so that the Notes are eligible for “Tier 1” capital qualification under the Solvency II regulation. As such, the Notes will be subject to a loss absorption mechanism in the form of a reduction in the nominal amount of the Notes in the event of non-compliance with certain solvency thresholds at the Crédit Agricole Assurances Group level. Interest payments under the Notes will be at the sole discretion of Crédit Agricole Assurances and may be compulsorily cancelled under the conditions set out in the Solvency II regulation. The Notes will bear interest at an initial annual fixed rate of 5.875%¹ until the first reset date in 2032.

The Notes received a “BBB” rating from S&P Global Ratings. Settlement of the Notes is scheduled for June 16, 2026.

Crédit Agricole Assurances is rated “A/stable outlook” by S&P Global Ratings.

About Crédit Agricole Assurances
Crédit Agricole Assurances, France’s leading insurer, is Crédit Agricole Group’s subsidiary, which brings together all the insurance businesses of Crédit Agricole S.A. Crédit Agricole Assurances offers a range of products and services in savings, retirement, health, personal protection and property insurance. They are distributed by Crédit Agricole’s banks in France and in 9 countries worldwide, and are aimed at individual, professional, agricultural and business customers. At the end of 2025, Crédit Agricole Assurances had more than 7,100 employees. Its 2025 premium income (non-GAAP) amounted to 52.4 billion euros.

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