I re-post these press releases from time to time from the S&P as a way to bring awareness to enterprise risk management and how the rating agency’s review of their capability plays into their overall rating.
This is the first time that I have see an explicit worsening in an ERM capability in these ratings. I suppose it is possible but I am curious how one goes from excellent to strong once you build the processes and capabilities?
S&P said the units’ ratings — which were lowered one notch to AA- from AA, or three steps under the highest rating of AAA — were supported by AXA’s “very strong” competitive position, a positive management strategy and a “strong” enterprise risk management, which was seen as “excellent” previously.
Merci pour ce post vraiment intèressant