This Day On The Street
Continue to site
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

A.M. Best Revises Issuer Credit Ratings Outlook To Stable For Two AXA S.A.’s U.S. Property/Casualty Subsidiaries

A.M. Best has revised the issuer credit ratings (ICR) outlook to stable from negative and affirmed the financial strength rating (FSR) of A (Excellent) and ICRs of “a+” of AXA Insurance Company (AXA Insurance) and AXA Art Insurance Corporation (AXA Art) (both domiciled in New York, NY). The outlook for the FSR is stable.

Concurrently, A.M. Best has affirmed the FSR of B++ (Good) and the ICR of “bbb” of Coliseum Reinsurance Company (Coliseum Re) (Wilmington, DE), which is in run off. The outlook for these ratings is stable. All of the above companies are U.S. subsidiaries of AXA S.A. (AXA) (France) [OTC:AXAHY.PL].

The ratings for AXA Insurance reflect its strong stand-alone attributes, including its risk-adjusted capitalization, solid underwriting fundamentals and overall operating profitability. The company serves as AXA’s primary U.S. insurer of reverse flow business representing the domestic portion of multinational accounts generated by AXA affiliates.

The ratings of AXA Art recognize its strong risk-adjusted capitalization, favorable historical operating results and recognized expertise in the fine arts insurance line. The ratings reflect the implicit and explicit support provided to the company through reinsurance programs with AXA affiliates. Beginning January 1, 2014, coverage for the fine art business is being provided by AXA Insurance. Current exposures will remain under AXA Art to their conclusion.

The outlook for the ratings of AXA Insurance and AXA Art reflect A.M. Best’s expectation of continued underwriting discipline, proactive strategic management and ongoing capital support. The outlook also takes into account the resolution of key concerns with AXA’s exposures to uncertainty in the eurozone and the potential impact on the U.S. operations.

Coliseum Re remains in run off status. The company continues to maintain adequate capitalization and liquidity relative to its remaining liabilities.

Upward movement on the ratings of AXA Insurance and AXA Art could occur with extended periods of favorable underwriting and overall operating results through market cycles. Negative rating actions could occur with loss of capital position or perceived lessening of support provided by AXA. Separately, Coliseum Re is subject to potential negative rating actions should adverse development occur in the remaining run off exposures.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,739.60 +120.09 0.68%
S&P 500 2,075.74 +12.63 0.61%
NASDAQ 5,016.0140 +29.1470 0.58%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs