S&P gives AXIS A

Standard & Poor's said it assigned its A financial strength and counterparty credit ratings to AXIS Insurance Co., which is ultimately owned by AXIS Capital Holdings Ltd.

At the same time, S&P said it affirmed its BBB+ counterparty credit and senior debt ratings on AXIS Capital and its A counterparty credit and financial strength ratings on AXIS Capital's operating subsidiaries AXIS Specialty Ltd., AXIS Reinsurance Co., AXIS Specialty Europe Ltd., AXIS Specialty Insurance Co., AXIS Surplus Insurance Co. and AXIS Re Ltd.

The outlook on all of these entities is positive.

According to the agency, the ratings assignment on AXIS Insurance reflects the view that this entity is a core member of the AXIS group of companies and, prospectively, S&P said it expects AXIS Insurance to become AXIS's main vehicle in the United States for the underwriting of primary insurance risks on an admitted basis.

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