A.M. Best Upgrades Aviabel’s Ratings Following AXIS Acquisition
A.M. Best has removed from under review with positive implications and upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Compagnie Belge d’Assurances Aviation S.A. (Aviabel) (Belgium). The outlook assigned to these Credit Ratings (ratings) is stable.
This rating action follows the completed acquisition of Aviabel by AXIS Capital Holdings Limited (AXIS). It reflects the operational benefits that Aviabel is expected to derive from being a member of a larger group with substantial financial resources. In particular, the implementation of a quota share arrangement, effective from the date of acquisition, provides Aviabel with material reinsurance support from another entity within the AXIS group.
Download the AM Best press release – May 2017.