Ratings on AXA Group's Japanese Operations Affirmed Following Parent Downgrade Feb 03

  • ID: 1859629
  • February 2003
  • Region: Japan
  • Standard & Poors
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TOKYO (Standard & Poor's) Feb. 12, 2003--Standard & Poor's Ratings Services said today that it had affirmed its financial strength and counterparty credit ratings on AXA Life Insurance Co. (AA-/Negative/--) and AXA Group Life Insurance Co. (AA-/Negative/--) following the downgrade of the core operating companies of Paris-based global insurance and asset management group AXA to 'AA-' from 'AA' (see Standard & Poor's media release: "Ratings on AXA Group Entities Lowered to 'AA-' on Slower 2002 Earnings Growth; Outlook Stable" for full details.). The insurer financial strength and long-term counterparty ratings on AXA Life and AXA Group Life are based on the companies' importance as core members of the AXA group's global life insurance operations. However, given the absence of explicit...

Companies mentioned in this report are: AXA Group Life Insurance Co.,AXA
Action: Affirmed

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Research type: News
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AXA Group Life Insurance Co.,AXA

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