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In This List

Insurance ratings actions: A.M. Best affirms Axa Mansard, Hong Leong Insurance

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Insurance ratings actions: A.M. Best affirms Axa Mansard, Hong Leong Insurance

S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5 p.m. ET. Actions after 5 p.m. ET will be included in the following day's roundup.

U.S. and Canada

A.M. Best affirmed the A+ financial strength rating and the "aa-" long-term issuer credit rating of Mutual of America Life Insurance Co.

The outlooks were revised to negative from stable.

The ratings reflect Mutual of America's balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management.

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A.M. Best affirmed the A financial strength rating and the "a" long-term issuer credit rating of Eyemed Insurance Co.

The outlook on these credit ratings is stable.

The ratings reflect Eyemed Insurance's balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

Europe

A.M. Best affirmed the "bbb-" long-term issuer credit rating of LIA Holdings Ltd. and affirmed the A- financial strength rating and the "a-" long-term issuer credit rating of the domestic and international operating entities of the company.

The operating entities are Lombard International Life Assurance Co. and its wholly owned subsidiary Lombard International Life Assurance Co. of New York, along with Lombard International Assurance SA, Lombard International Life Assurance Co. (Bermuda) Ltd. and Lombard International Life Ltd.

The outlook of these credit ratings is stable.

The ratings reflect LIA Holdings' balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

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Fitch Ratings withdrew the AA- insurer financial strength ratings of AXA Corporate Solutions Assurance and AXA Art Versicherung AG as the entities have ceased to exist after their merger into XL Insurance Co.

The outlooks were positive prior to the withdrawal.

Middle East and Africa

A.M. Best affirmed the B financial strength rating and the "bb+" long-term issuer credit rating of Custodian and Allied Insurance Ltd.

The outlook of these credit ratings is stable.

The ratings reflect Custodian and Allied Insurance's balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, limited business profile and marginal enterprise risk management.

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A.M. Best affirmed the B+ financial strength rating and the "bbb-" long-term issuer credit rating of Axa Mansard Insurance PLC.

The outlooks were revised to stable from negative, reflecting the agency's expectation that the company's risk-adjusted capitalization will remain at the strongest level over the medium term, benefiting from the de-risking of its investment portfolio, and that Axa Mansard Insurance's underwriting performance will gradually improve.

The ratings reflect Axa Mansard’s balance sheet strength, which A.M. Best categorizes as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also reflect rating enhancement from the Axa group.

Asia-Pacific

A.M. Best affirmed the A- financial strength rating and the "a-" long-term issuer credit rating of New Zealand-based Fidelity Life Assurance Co. Ltd.

The outlook of these credit ratings is stable.

The ratings reflect Fidelity Life's balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

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A.M. Best affirmed the A- financial strength rating and the "a-" long-term issuer credit rating of Hong Leong Insurance (Asia) Ltd.

The outlook of these credit ratings is stable.

The ratings reflect Hong Leong's balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

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