Standard & Poor's (S&P) has assigned interactive ratings to Ireland-based AXA Insurance Ltd (Axa Ireland), a wholly-owned subsidiary of the AXA group. BBB long-term counterparty credit and insurer financial strength ratings were assigned to the company. The rating outlook is stable.
S&P analyst Ashley Gill said: "The ratings reflect the company's strong business position, good capitalisation, and recent recovery in earnings.
"Nevertheless, these positive factors are partially offset by the current management team's relatively short track record in restructuring the company, and its ability to prolong the company's recovery in operating performance and strengthen the capital base," he added.
