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AXA General Insurance Hong Kong Ltd. Raised To 'BBBpi' On Improved Performance Oct 05
Standard & Poors, Oct 2005
Abstract
HONG KONG (Standard & Poor's) Oct. 5, 2005--Standard & Poor's Ratings Services said today that it had raised its rating on AXA General Insurance Hong Kong Ltd. (AXA General Hong Kong) to 'BBBpi' from 'BBpi'. 'The rating reflects the company's improved underwriting performance, good capitalization, and liquid investment portfolio,' said Standard & Poor's credit analyst Paul Clarkson. These positive factors are, however, offset by its shrinking market share and below-average underwriting performance over the past few years. AXA General Hong Kong is a member of the France-based global insurance group AXA (A/Positive/A-1) and the tenth-largest general insurance company in Hong Kong. However, its market share declined to 2.4% in 2004 from 2.7% in 2003. In addition, the company's gross written...
Companies mentioned in this report are: AXA General Insurance Hong Kong Ltd.,AXA
Action: Upgraded
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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