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AXA Insurance U.K. PLC May 05
Standard & Poors, May 2005
Abstract
Strategic importance to the AXA group; and Good competitive position. Operating performance, although improving, still not in line with the rating category; and Capitalization, although improving, still not in line with the rating category. The ratings on U.K.-based non-life insurance subgroup AXAI, which comprises the legal entities AXA Insurance U.K. PLC and AXA General Insurance Ltd., reflect the strategic importance of AXAI to the AXA group (AXA; core entities are rated AA-/Stable), as well as AXAI's good competitive position. These positive factors are offset by AXAI's operating performance and capitalization, both of which are improving, but are still not in line with the rating category. AXAI operates in lines of business and in a geographical region that are integral to...
Companies mentioned in this report are: AXA Insurance U.K. PLC,AXA,AXA General Insurance Ltd.
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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