This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

A.M. Best Affirms Ratings Of U.S. Subsidiaries Of AXA S.A.

Stocks in this article: AXAHY

A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit rating (ICR) of “a” of AXA Insurance Company (New York, NY). Additionally, A.M. Best has affirmed the FSR of A (Excellent) and ICR of “a+” of AXA Art Insurance Corporation (AXA Art) (New York, NY).

Concurrently, A.M. Best has affirmed the FSR of B++ (Good) and ICR of “bbb” of Coliseum Reinsurance Company (Coliseum Re) and AXA Corporate Solutions Life Reinsurance (ACSLRe). A.M. Best also has withdrawn the FSR of B++ (Good) and ICR of “bbb” of Mosaic Insurance Company (Mosaic). These are U.S. subsidiaries of AXA S.A. (AXA) (France) (Other OTC: AXAHY) that are in run off. The outlook for all ratings is stable. All companies are domiciled in Wilmington, DE, unless otherwise specified.

The ratings of AXA Insurance Company reflect its strong risk-adjusted capitalization, which is supported by an extensive reinsurance program, its favorable liquidity and strategic importance to AXA. The company serves as AXA’s primary domestic insurer of reverse flow business, representing the U.S. portion of multinational accounts generated primarily by the clients of AXA Corporate Solutions Assurance and AXA Versicherung AG. AXA Insurance Company also provides 60% quota share reinsurance coverage for AXA Art to better utilize its capital.

Acting essentially in a fronting role, most business is reinsured to AXA Insurance Company’s affiliates through quota share reinsurance agreements. While heavy reliance on affiliated reinsurance leads to high ceded underwriting leverage, the company’s outstanding reinsurance recoverables are predominantly collateralized. AXA Insurance Company also benefits from the financial flexibility of AXA. While the company’s net operating performance has exhibited volatility historically, A.M. Best expects this performance to continue improving over the long term based on AXA Insurance Company’s present and clearer strategy, along with its continued reinsurance protection. In recent years, the company has taken actions to cleanse its balance sheet, including write-offs of old reinsurance recoverables. These actions should continue to lead to better results going forward that are more reflective of AXA Insurance Company’s remaining core book of business, which has been performing favorably.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs