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AXA Insurance Ltd. Outlook Revised to Positive; 'BBB' Ratings Affirmed Apr 03
Standard & Poors, April 2003
Abstract
LONDON (Standard & Poor's) April 1, 2003--Standard & Poor's Ratings Services said today it revised its outlook on Ireland-based non-life insurer AXA Insurance Ltd. (AXA Ireland) to positive from stable. At the same time, Standard & Poor's affirmed its 'BBB' long-term counterparty credit and insurer financial strength ratings on the company. 'The outlook revision reflects significant improvements in operating performance and strengthening capital adequacy,' said Standard & Poor's credit analyst Ashley Gill. The ratings on AXA Ireland, a wholly owned subsidiary of the Paris-based global insurance group AXA (A/Stable/A-1; main operating entities are rated AA-/Stable/--), reflect the company's strong--albeit narrow--business position and good capitalization. These positive factors are partially offset by earnings, which have been weak historically, but recovered in...
Companies mentioned in this report are: AXA Insurance Ltd.,AXA
Action: Outlook Revised
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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