AM Best recognizes AXA`s net premiums
Baku, January 18 (AZERTAC). The AM Best financial agency has recognized the French AXA Company as the world`s biggest insurer in terms of net premiums, the Azerbaijani AXA MBASK insurance company told Trend today.
AM Best issued a report recently on the annual ranking of world insurance companies.
"AXA became a leader among its competitors amid high volatility, sovereign debt crises in Europe and the rapid changes in the mood of investors," the agency said.
Regarding insurers with the largest assets, Japan Post Insurance, noting an availability of assets worth $1.1 trillion in its report as of late 2009, was ranked first in net premiums.
The agency`s two ratings of the world`s 25 largest insurers, one in terms of assets, and another in terms of net premiums, are based on data obtained from Bestlink system. The list is based on the financial results for 2009, as global insurers have different reporting requirements and reporting periods. Moreover, the results were amended to show differences in exchanges and reporting.
AXA, the world`s largest insurer, has recently been represented in Azerbaijan. Last October, AXA acquired a controlling stake in one of the largest insurance companies in the country, MBASK, through its Spanish subsidiary AXA Sequros Generales, SA, De Sequros Y Reasequros. Today, the largest insurance company in the world conducts its activity in Azerbaijan through AXA MBASK.
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