JULY 07, 2017 03:10 PM (EDT)
A.M. Best Affirms Credit Ratings of AXA Insurance Company
Senior Financial Analyst
+1 908 439 2200, ext. 5372
+1 908 439 2200, ext. 5325
Manager, Public Relations
+1 908 439 2200, ext. 5159
Director, Public Relations
+1 908 439 2200, ext. 5644
FOR IMMEDIATE RELEASE
OLDWICK - JULY 07, 2017 03:10 PM (EDT)
A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of AXA Insurance Company (AXA Insurance) (New York, NY). The outlook of these Credit Ratings (ratings) is stable. AXA Insurance is a U.S. subsidiary of AXA S.A. (AXA) [OTC:AXAHY; CS:FP].
The ratings of AXA Insurance reflect its strong risk-adjusted capitalization, solid underwriting fundamentals and overall operating profitability. The company serves as AXA’s primary U.S. insurer of reverse flow business representing the domestic portion of multinational accounts generated by AXA affiliates, and offers select coverage for U.S.-based accounts. AXA Insurance also is the primary direct writer of the AXA organization’s fine arts coverage in the United States.
A.M. Best believes the ratings of AXA Insurance are well-positioned at their current level. The ratings of AXA Insurance may be downgraded if risk-adjusted capitalization significantly weakens, if underwriting performance trends negatively from either an increase in claims frequency or severity, from adverse reserve development, or if the implicit or explicit support provided by AXA diminishes.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source.