AXA Health Insurance and AXA Health Re are subsidiaries of AXA SA and the newly created entities housing AXA group?s international health insurance activities with corporate groups and affluent individuals. We regard both as core to the group because expanding the health insurance business is a central strategic priority for AXA, and the entities are highly integrated in the group and benefit from extensive reinsurance. We assigned our 'AA-' insurer financial strength and issuer credit ratings to AXA Health Insurance and AXA Health Re. The positive outlook on both entities mirrors that on AXA group and reflects our view that AXA Health Insurance and AXA Health Re will remain core to the group and assist the latter in growing profitability.
