Major Rating Factors:
Fair quality investment portfolio (4.2 on a scale of 0 to 10) with large holdings of BBB rated bonds in addition to significant exposure to junk bonds. Exposure to mortgages is significant, but the mortgage default rate has been low. Fair overall results on stability tests (3.6) including negative cash flow from operations for 2023 and fair risk adjusted capital in prior years. Good overall capitalization (5.3) based on mixed results -- excessive policy leverage mitigated by good risk adjusted capital (moderate loss scenario).
Other Rating Factors:
Good Liquidity (6.2). Weak profitability (1.0) with operating losses during 2023.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
I - Past results on our Investment Safety Index.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
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Licensed in:
All states, the District of Columbia and Puerto Rico
Investments
Invested Assets
Cash
CMO & Structured Securities
Other Investment Grade Bonds
Non-Investment Grade Bonds
Common & Preferred Stock
Mortgages in Good Standing
Non-Performing Mortgages
Real Estate
Other Investments
Investments in Affiliates
Corporate Info
Group Affiliation
AXA Financial Inc
Investment Rating
Company Address
1290 Avenue of the Americas
New York, NY 10104
New York, NY 10104
Phone Number
(212) 554-1234
NAIC Number
62944
Largest Affiliates