Thursday, February18, 2021 / 10:00 AM / By AXA Mansard / Header Image Credit: AXA Mansard

AXA MansardInsurance plc. is pleased to announce the affirmation of its rating outlook bythe global insurance rating agency, A.M. Best as stable and its FinancialStrength Rating (FSR) of "B+" (Good)and "bbb-" (Good) for the IssuerCredit Rating (ICR).

A.M. Bestin its press release stated that "Theratings reflect AXA Mansard's balance sheet strength, which AM Best categorizesas strong, as well as its adequate operating performance, limited businessprofile and appropriate enterprise risk management. The ratings also reflectrating enhancement from AXA Mansard's ultimate parent, AXA S.A. (AXA group)".

AXA Mansard Insurance remains an outstanding Insurer with strongfinancial strength and excellent underwriting capabilities. The organizationhas demonstrated this over the years through its superior financial and technical competencies.

AXA Mansard has achieved measurable results through the effectiveimplementation of sound risk management principles and business innovation. Inrecognition of its innovative products and services, the Company was declared asthe Insurance Company of the Year at the recent Business Day Awards.  The company has also received several otherawards including the Marketing Edge Award for Most Outstanding InsuranceCompany of the Decade.

Commentingon the rating, Mrs. Ngozi Ola-Israel, the Chief Financial Officer said "The affirmation of our ratings lendscredence to the significant improvement in our internal capital generationabilities with strong focus on continuously improving our underwritingperformance through technical excellence"

Alsocommenting on the rating, Mr. Kunle Ahmed, the Chief Executive Officer saidthat "We are pleased that our continuedeffort to build a resilient non-bank financial services institution is yieldingpositive results. The affirmation of our A.M. Best rating as stable and theretention of our FSR and ICR ratings despite the exposure to high-leveleconomic, political and financial system risks further emphasize our leadingposition and capacity to meet our obligations to stakeholders. We are committedto acting for human progress by protecting what truly matters."

A.M. Best Company is a global credit rating agency with over 100years history of providing quantitative and qualitative assessment forInsurance companies, with its "Best's Credit Rating Methodology" used todetermine the financial strength and creditworthiness of Insurance companies.A.M Best is the world's oldest and most authoritative insurance rating andinformation source. 

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