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AXA Group Life Insurance Co. Sep 02
Standard & Poors, Sep 2002
Abstract
The 'AA-' insurer financial strength and long-term counterparty ratings on AXA Life Insurance Co. and AXA Group Life Insurance Co. (collectively, AXA Japan) are based on the companies' strategic importance as core members of the AXA group's global life insurance operations. The ratings are also based on the companies' good stand-alone financial profiles, supported by their established market positions among second-tier insurers in Japan, and their good asset quality, strong capitalization, and strong financial flexibility. Moderating factors include the companies' improving but still weak earnings due to stagnant business growth, and their weak investment performance, mainly caused by their exposure to the weak domestic equity market. AXA Life and AXA Group Life target different segments of the market, with AXA...
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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