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AXA Group May 11
Standard & Poors, May 2011
Abstract
Very strong competitive position. Positive management and corporate strategy. Strong enterprise risk management. Weak capitalization relative to the ratings. The ratings on the core operating entities of France-based insurer AXA group (AXA), shown in table 5 at the end of this analysis, derive support from what Standard & Poor's Ratings Services' views as the group's very strong competitive position, positive management and strategy, and strong enterprise risk management. Financial flexibility and operating performance are, in our opinion, consistent with the current insurer financial strength rating on the group. Weighing on the group's overall credit strength is capitalization, which we continue to view as a weakness based on our criteria. We view AXA group's competitive position as very strong. With revenues...
Companies mentioned in this report are: AXA France IARD,AXA Equitable Life Insurance Company,MONY Life Insurance Co.,United Kingdom (Unsolicited Ratings),AXA Versicherungen AG,AXA France Vie,AXA Insurance U.K. PLC,AXA Life and Annuity Company,MONY Life Insurance Co. of America,AXA Insurance Co.,AXA Versicherung AG,AXA Belgium,AXA Corporate Solutions Assurance,AXA Lebensversicherung AG,AXA Life Insurance Co. Ltd.,DBV Deutsche Beamtenversicherung Lebensversicherung AG,DBV Deutsche Beamten-Versicherung AG,AXA Krankenversicherung AG,AXA Bank Europe S.A.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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