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TMCNet:  A.M. Best Withdraws Ratings of AXA General Insurance

[November 14, 2012]

A.M. Best Withdraws Ratings of AXA General Insurance

OLDWICK, N.J. --(Business Wire)--

A.M. Best Co. has withdrawn the financial strength rating of A (Excellent) and issuer credit rating of "a+" of AXA General Insurance (AXA General) (York, Ontario).

These rating actions follow the amalgamation of AXA General into its affiliated company, Novex Insurance Company on April 23, 2012, by the parent, Intact Financial Corporation.

The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating rocess and contains the different rating criteria employed in the rating process. Key criteria utilized include: "Risk Management and the Rating Process for Insurance Companies" and "Rating Members of Insurance Groups." Best's Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2012 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.


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