|[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A.M. Best Co. has withdrawn the financial strength rating of A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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