Moody's has affirmed AXA's ‘A2' debt ratings, as well as its ‘Aa3' insurance financial strength ratings of AXA's main operating subsidiaries with a stable outlook.

Moody's said that "the group's refocusing and rationalisation efforts have contributed to leveraging AXA's global insurance franchise, translating into enhanced earnings stability and financial strength".

The rating agency commented that its stable rating outlook on the insurance financial strength ratings of the group's core operating units reflected the company's “leading positions in its respective markets, sound economic solvency and reserving practices".

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