Winterthur Insurance Company's financial strength ratings were upgraded by Moody's to "Aa3" from "A1" following the company's acquisition by the AXA Group.
The outlook for the rating is stable, Moody's analysts said on Friday. The rating had previously been placed on review for possible upgrade in June 2006 following announcement of the proposed transaction.
"The new rating level not only reflects the stand-alone fundamentals of Winterthur, but also the benefits of being part of a larger group whose primary focus is insurance," said Steve Hunnisett, a vice president/senior analyst in Moody's European insurance team.
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