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AXA Group Jun 05
Standard & Poors, June 2005
Abstract
Very strong competitive position; Very strong capitalization; Very strong earnings; and Positive management and corporate strategy. High level of intangibles in the balance sheet. The ratings on the core insurance operating companies of the AXA Group (see Table 6) reflect the very strong financial strength of the group, one of the world's leading financial services providers. AXA Group's very strong competitive position is underpinned by sizable and diversified operations in most of the world's largest insurance markets. This superior geographical spread is complemented by business line diversification provided by a combination of life, asset management, property/casualty (P&C), and international insurance, minimizing overreliance on one single activity. The group has built very strong franchises and solid levels of profitable growth in...
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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