A.M. Best Co. affirmed the financial strength rating of “A-” (excellent) of AXA Corporate Solutions Ins. Co. (AXA) based in New York. The rating has been removed from under review and assigned a stable outlook.
The rating reflects AXA’s balance sheet strength, which is supported by a guarantee agreement with AXA Re out of Paris, France, and the significant decrease in the company’s net underwriting leverage. While maintaining its surplus level, AXA has reduced its underwriting risk through an extensive reinsurance program. Partially offsetting these positive rating factors are AXA’s poor historical operating performance and its concentration in volatile lines of business.
Was this article valuable?
Here are more articles you may enjoy.
AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry 
Viewpoint: Insurance and AI – A Double-Edged Sword 
Florida Jury Awards Jack Nicklaus $50M in Defamation Suit vs. His Former Company 
Best Agency to Work For – Overall Winner: Robertson Ryan Insurance From This Issue
