AXA Mansard Insurance Plc has announced the affirmation of its rating outlook by the global insurance rating agency, A.M. Best as stable and its Financial Strength Rating (FSR) of “B+” (Good) and “BBB-” (Good) for the Issuer Credit Rating (ICR).
According to A.M. Best, the ratings reflect AXA Mansard’s balance sheet strength, which it categorised as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also reflect rating enhancement from AXA Mansard’s ultimate parent, AXA S.A. (AXA group).
AXA Mansard Insurance remains an outstanding insurer with strong financial strength and excellent underwriting capabilities. The organisation has demonstrated this over the years through its superior financial and technical competencies.
Commenting on the rating, the Chief Financial Officer, Ngozi Ola-Israel, said “The affirmation of our ratings lends credence to the significant improvement in our internal capital generation abilities with a strong focus on continuously improving our underwriting performance through technical excellence”.