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AXA Equitable Nov 09
Standard & Poors, Nov 2009
Abstract
U.S. operating insurance companies viewed as 'core' subsidiaries to the AXA group Well-established position in the U.S. individual annuity and life insurance market Solid brand name, product suite, and multichannel distribution network Very strong parent, AXA S.A. A significant portion of variable annuity risk is mitigated through hedging programs and reinsurance Limited earnings diversity outside of annuities Above-average holdings of 'BBB' bonds in U.S. operating companies Earnings have a higher relative exposure to equity market fluctuations Statutory capital has declined due primarily to decline in value of AllianceBernstein The insurer financial strength ratings on AXA Equitable Life Insurance Co., AXA Life and Annuity Co., MONY Life Insurance Co., and MONY Life Insurance Co. of America (collectively referred to as AXA...
Companies mentioned in this report are: AXA Equitable Life Insurance Company,MONY Life Insurance Co.,AXA,AXA Life and Annuity Company,MONY Life Insurance Co. of America
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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