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AXA Insurance U.K. PLC May 06
Standard & Poors, May 2006
Abstract
Strategic importance to the AXA group Good competitive position Weaker operating performance than peers', although improved Marginal quality of capital, although capitalization has improved The ratings on U.K.-based non-life insurance subgroup AXAI, which comprises the legal entities AXA Insurance U.K. PLC and AXA General Insurance Ltd., reflect the strategic importance of AXAI to the AXA group (AXA; core entities are rated AA-/Positive), as well as AXAI's good competitive position. These positive factors are offset by AXAI's operating performance, which is weaker than that of peers, and its capitalization, which has improved but is only in line with the rating category. AXAI operates in lines of business and in a geographic region that are integral to the AXA group's strategy. In...
Companies mentioned in this report are: AXA Insurance U.K. PLC,AXA,AXA General Insurance Ltd.
Action: Review
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: Full Analysis
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