AXA Outlook To Negative On Weakened Capital Adequacy, Core Entities Affirmed At 'AA-'; Off Watch Jan 12
- Language: English
- Published: January 2012
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 markets 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 Very limited subprime exposure Limited earnings diversity outside of annuities Risk profile of CMBS and commercial whole loan investments appears higher than that of its peers Above-average holdings of 'BBB' bonds in U.S. operating companies Earnings have a higher relative exposure to equity market fluctuations Statutory capital is linked to the market value of AllianceBernstein The insurer financial strength ratings on AXA Equitable Life Insurance Co., AXA Life and...
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
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AXA Equitable Life Insurance Company,MONY Life Insurance Co.,AXA,AXA Life and Annuity Company,MONY Life Insurance Co. of America