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AXA General Insurance Hong Kong Ltd. Downgraded to 'BBpi' from 'BBBpi' Jun 02
Standard & Poors, June 2002
Abstract
HONG KONG (Standard & Poor's) June 12, 2002--Standard & Poor's said today it had lowered its public information rating on AXA General Insurance Hong Kong Ltd. (AXA General Hong Kong) to double-'Bpi' from triple-'Bpi'. 'The rating on AXA General Hong Kong reflects the company's continued unfavorable operating performance and its reduced capitalization. These factors are offset by the company's good market position,' said Standard & Poor's analyst Connie Wong. AXA General Hong Kong's integration with AXA Insurance Hong Kong Ltd. in 2000 increased the company's market share in 2001 to 4% in terms of total premiums, ranking it the fourth-largest insurer in the highly competitive Hong Kong general insurance market. The company's ultimate holding company is the France-based AXA. AXA...
Companies mentioned in this report are: AXA General Insurance Hong Kong Ltd.,AXA
Action: Downgraded
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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