Fitch Ratings has affirmed the insurer financial strength rating for the AXA Group's major insurance companies as AA.
The long term and short-term debt ratings for the AXA Group were also affirmed as A+ and F1 respectively. The outlook on all the ratings remains stable, said Fitch.
It said the decision to affirm AXA's ratings reflected its view of AXA's global position and competitive advantages.
"The group's ratings are also based on the quality and conservatism of its management team which is pursuing a consistent strategy and on the group's robust financial profile," said Fitch.
An offsetting factor in the rating was declining profitability, especially for the group's life insurance and asset management operations.
