Fitch Affirms AXA's Ratings, Cites Strong Company Profile

Fitch Ratings has maintained AXA's ratings and outlook due to the company's "very strong" profile. AXA is the European leading insurance group, with net sales broken down into damage insurance (62.7%), life insurance (35.9%), and other activities (1.4%). The group offers a range of services, including car insurance, home insurance, property damage, civil liability, and major risk insurance, as well as assistance services, savings policies, retirement accounts, estate planning services, and health insurance.

Sompo Holdings Inc. has announced its intention to acquire New York-listed Aspen Insurance Holdings Ltd. for approximately $3.5 billion, marking a significant overseas expansion for the Japanese financial giant. The acquisition will be executed at a price of $37.50 per share, representing a 35.6% premium to Aspen's unaffected share price. This deal follows a trend of Japanese companies investing in overseas assets to drive growth, as domestic markets face challenges such as an aging population and thin yields [1].

Sompo's offer comes amidst a wave of Japanese financial firms making strategic acquisitions overseas. Notably, Nippon Life Insurance acquired Resolution Life Group Holdings for about $8.2 billion, and Nomura's decision to acquire Macquarie Group's U.S. and European public asset management businesses for $1.8 billion. These deals reflect a broader trend of Japanese companies seeking durable, dollar-denominated cash flows and fee businesses abroad [1].

Sompo plans to integrate Aspen's operations with its existing overseas insurance business to strengthen its presence in major markets, including the Americas and the UK. The acquisition will be financed entirely through Sompo's internal capital and is expected to close in the first half of 2026. Morgan Stanley is acting as Sompo's financial advisor, while Goldman Sachs is advising Aspen on the deal [1].

Fitch Ratings recently reaffirmed AXA's ratings and outlook, citing the company's "very strong" profile. AXA, the European leading insurance group, reported net sales broken down into damage insurance (62.7%), life insurance (35.9%), and other activities (1.4%). The company offers a diverse range of services, including car insurance, home insurance, property damage, civil liability, major risk insurance, assistance services, savings policies, retirement accounts, estate planning services, and health insurance [2].

References:

[1] https://www.reuters.com/legal/transactional/japans-sompo-acquire-aspen-insurance-35-billion-westward-push-2025-08-27/
[2] Fitch Ratings