Best Sees No Winterthur Rating Change on AXA Acquisition

A.M. Best Co. has commented that the ratings of Winterthur Swiss Insurance Company and its core subsidiary, Winterthur Life Insurance Company, collectively known as Winterthur Group, “remain unchanged following the announcement that the group is to be acquired by AXA (See IJ Website June 15).

Best said it “believes that the current financial strength of Winterthur Group is likely to remain unchanged following the acquisition. Financial flexibility is likely to remain stable following AXA’s decision to refinance the majority of the outstanding debt issued by Winterthur Group.”