AM Best has changed the financial strength ratings of AXA Corporate Solutions Reinsurance Company to B (fair) from A (excellent).
The ratings agency also removed the ratings from under review and assigned a negative outlook.
At the same time, the financial strength rating of AXA Corporate Solutions Insurance Company was raised to A (excellent) from A- (excellent).
AM Best revealed the ratings upgrade reflects the continued strong level of capitalisation.
However it maintained concerns over the continued impact of world trade centre losses on the ratings.
