New York-based Standard & Poor's Ratings Services announced yesterday that it has raised credit and debt ratings for Bermuda-based AXIS Capital and also upped the financial strength ratings of its insurance subsidiaries to "A-plus" from "A."
S&P analyst Laline Carvalho said the upgrade "reflects our view that AXIS has consistently outperformed most of its peers, with strong operating results since its inception in 2001."
She said in a statement, "We believe AXIS' earnings quality is also strong, as demonstrated by a history of moderate earnings volatility relative to peers, even including large loss years such as 2005 and 2008."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
