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AXA General Insurance Hong Kong Ltd. Jun 01
Standard & Poors, June 2001
Abstract
The financial strength rating on AXA General Insurance Hong Kong Ltd. reflects the company's solid business position and satisfactory balance sheet. However, sizable losses over the past few years have undermined the company's financial strength profile. AXA General Hong Kong is one of the top-five insurers in the highly competitive Hong Kong market. It is owned by the French AXA group, and has a broad business base both in terms of product lines and business sources. From its premiums of HK$514million in 1999, HK$83 million was derived from related group companies through inward reinsurance arrangements. AXA General Hong Kong recorded a substantial pretax loss of HK$33 million in 1999, influenced by a series of catastrophe-related losses. This included Hong Kong...
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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