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AXA S.A.'s Ratings Affirmed by S&P - 1 Jun 96
Standard & Poors, June 1996
Abstract
LONDON -- Standard & Poor's CreditWire 6/3/96 -- Standard & Poor's today has affirmed the existing ratings of the AXA S.A. insurance group (see attached release), including its 60.6% owned U.S. life subsidiary, the Equitable Life Assurance Society of the U.S. At the same time, the existing claims-paying ability rating of the recently acquired, 51% owned Australian subsidiary, National Mutual Life Association of Australasia Ltd. (NMLA), has been raised to double-`A' from single-`A'-plus. The ratings are indicative of a highly effective, decentralized management team, excellent risk-based capitalization, globally diversified franchises, strong financial flexibility, generally prudent investments, liquidity and reserving, and a largely sound operating performance across the group. Partially offsetting these strengths, Standard & Poor's notes that strategy remains opportunistically...
Companies mentioned in this report are: AXA,AXA Equitable Life Insurance Company,Equitable Lord Realty Corp.,National Mutual Life Association of Australasia Ltd. (The),AXA Re,AXA Insurance U.K. PLC,AXA Belgium S.A.,AXA Reinsurance U.K. Ltd.,AXA Life and Annuity Company,AXA Financial Inc.
Action: New Rating
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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