AXA Group

The Group's reinsurance subsidiary for the Asia-Pacific region has been honored with the title of "Reinsurance Company of the Year 2005." This award was presented by the Asia Insurance Review, the leading regional magazine for insurance industry professionals.

This is the first time that AXA RE Asia Pacific has won this award created in 1997, outstripping stiff competitors such as Munich Re and Swiss Re.

What were the selection criteria?

AXA RE Asia Pacific outshone competitors thanks to its financial stability combined with excellent operational performance, despite a high rate of claims. Over the past three years, the company has maintained an average combined ratio of 76.6% per annum. It also posted an average annual cashflow generated from operating activities of €15 million euros (S$ 31 million).

In terms of its investment policy, AXA RE Asia Pacific distinguished itself with its prudent asset-liability management policy, aligned to the financial climate and industry best practice.

AXA RE Asia Pacific is well-placed with high financial stability rankings of AA- from Standard & Poor's, AA from Fitch and A from AM Best. It is worth noting that AM Best recently upgraded the financial rating of the AXA RE Group as a whole from A- to A, which, in light of the current reinsurance environment, is a remarkable achievement.

The jury also took into account the company's efforts to better understand and satisfy customer needs and expectations. For example, in response to customers' concerns about terrorism, AXA RE Asia Pacific established a business continuity plan for both biological and non-biological threats.