OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of AXA Insurance Company (AXA Insurance) (New York, NY). The outlook of these Credit Ratings (ratings) is stable. AXA Insurance is a U.S. subsidiary of AXA S.A. (AXA) [OTC:AXAHY; CS:FP].
The ratings of AXA Insurance reflect its strong 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, and offers select coverage for U.S.-based accounts. AXA Insurance also is the primary direct writer of the AXA organization’s fine arts coverage in the United States.
A.M. Best believes the ratings of AXA Insurance are well-positioned at their current level. The ratings of AXA Insurance may be downgraded if risk-adjusted capitalization significantly weakens, if underwriting performance trends negatively from either an increase in claims frequency or severity, from adverse reserve development, or if the implicit or explicit support provided by AXA diminishes.
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