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AXA Jul 02
Standard & Poors, July 2002
Abstract
The ratings on all core entities of France-based AXA group reflect the group's extremely strong global business position and very strong consolidated capitalization. Operating performance, although gradually improving during the 1999-2000 period, is a relative weakness for the rating. Extremely strong business position. AXA has an unrivaled global business position in insurance and asset management with significant operations in the world's leading markets including the U.S., Japan, the U.K., Germany, and France. Following extensive restructuring activity in 2000, the group is now deeply focused on its core businesses, namely life insurance (Eur48.4 billion gross premium income in 2001), property-casualty insurance in Europe (Eur15.9 billion), and asset management (Eur507 billion third-party managed assets at Dec. 31, 2001). AXA has already achieved...
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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