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Bulletin: AXA And Winterthur Ratings Unaffected By Proposed Sale Of Winterthur US Jan 07
Standard & Poors, Jan 2007
Abstract
PARIS/FRANKFURT (Standard & Poor's) Jan. 5, 2007--Standard & Poor's Ratings Services said today that its ratings on the core insurance operating companies of the France-based AXA group (core insurance operating entities rated AA-/Stable/--), its holding company AXA (A/Stable/--), and the strategically important subsidiary Winterthur Swiss Insurance Co. (Winterthur; A+/Stable/--) are unaffected by the proposed sale of Winterthur's U.S.-based property/casualty insurer Winterthur U.S. Holdings Inc. (Winterthur US) to Australia-based QBE Insurance Group Ltd. (A-/Stable/--). In Standard & Poor's view, the sale of the U.S. operation would have no impact on Winterthur's strategically important status within the AXA group. Furthermore, the transaction will not materially affect AXA group's business and financial profile. Winterthur US is based in Wisconsin and writes property/casualty business...
Companies mentioned in this report are: AXA,AXA Versicherungen AG,AXA France IARD,AXA France Vie,QBE Insurance Group Ltd.
Action: Bulletin
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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