Best Places AXA Corporate Solutions Under Review Following Sale Agreement
A.M. Best Co. announced that it has placed the financial strength rating of “A-” (Excellent) of Delaware-based AXA Corporate Solutions Excess and Surplus Lines Insurance Company under review with negative implications.
Best said “this rating action follows Wellington Underwriting plc’s recent announcement that it plans to acquire AXA Corporate Solutions Excess and Surplus from AXA” (See IJ Website June 9).
Best also said it “plans to meet with Wellington to review its strategy, business plan and financial projections for the company. A.M. Best expects to complete its review of the company’s rating by the end of third quarter 2004.”
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