A.M. Best Affirms and Assigns Ratings to AXA Insurance Company.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A- (Excellent) and assigned an issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "a-" to AXA AXA Anguilla, Anguilla (Airport Code) AXA Alpha Chi Alpha AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing) AXA Auxiliary Artery Insurance Company (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY). The outlook for the FSR is stable, and the outlook assigned to the ICR is stable. The ratings are based on AXA Insurance Company's strong risk-adjusted capitalization, which is supported by an extensive reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. program and explicit and implicit support from the AXA Group. The ratings also recognize the company's stable strategy in recent years and its conservative investment portfolio and favorable liquidity. Partially offsetting these positive rating factors are the company's variable operating performance and surplus levels. AXA Insurance Company writes specialty lines of business and the U.S. portions of multinational accounts on behalf of affiliated AXA companies. Acting essentially in a fronting role, most business is reinsured to AXA Insurance Company's affiliates through quota share For This article is about quota shares (shares of the quota). For other usages of quota, see, see . A quota share is a specified number or percentage of the allotment as a whole (quota), that is prescribed to each individual entity (see Non-tariff barriers to trade). and stop loss agreements. Though this heavy reliance on affiliated reinsurance leads to high ceded underwriting leverage ratios, the company has significantly reduced its net underwriting exposure and leverage while maintaining an adequate surplus level. The company also benefits from a claims-paying guarantee from AXA Re and the financial flexibility of the AXA Group. Though its operating performance has historically been poor and reflects significant restructuring and lack of focus until 2003, it has recently improved, and A.M. Best expects the company's results to stabilize over the longer term based on its clearer strategy and reinsurance protection. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
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