Rating agencies have left AXA Re Group ratings unchanged after the announcement of its purchase by a Bermuda-based group of investors.
Both Standard and Poor's and A.M. Best said the financial strength ratings of AXA Re Group will remain unchanged at A (Best) and AA minus (S&P).
Last week it was announced that Paris Re Holdings Limited, Bermuda, is planning to set up a new reinsurance vehicle, Paris Re, to assume AXA Re's portfolio through a 100 percent quota share agreement.
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