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AXA Insurance Ltd. Nov 07
Standard & Poors, Nov 2007
Abstract
Strong capitalization Strong operating performance AXA ownership and one notch of implied group support Concentration in the very competitive Republic of Ireland motor insurance market. The ratings on Irish non-life insurer AXA Insurance Ltd. (AXA Ireland) reflect the company's strong capitalization, strong operating performance, and good competitive position. In addition, although Standard & Poor's Ratings Services considers AXA Ireland not to be strategically important to the AXA group (AXA; core entities are rated AA/Stable/--), one notch of implied group support has been included in the ratings. An offsetting factor is the high degree of concentration in the very competitive Republic of Ireland motor insurance market. AXA Ireland's strong capitalization is based on it maintaining at least a strong capital adequacy...
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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