S&P affirms AA- rating for AXA Group’s units

S&P said it affirmed its AA- rating for AXA Group’s core subsidiaries.

“The AA- ratings on AXA's core operating subsidiaries reflect the group's prominent business positions across large insurance markets (France, the U.S., Germany, the U.K., Switzerland, Belgium, and Japan) and lines of business (property/casualty, health, life, and asset management),” S&P said in a press release.

“AXA's operating profitability metrics in recent years demonstrate the group's competitive advantage thanks to its size, business and geographic diversification, brand recognition, and capacity to gradually shift its business mix away from financial market-sensitive products.”

The outlook is stable.

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