Moody’s affirms AIA, subsidiaries

Moody's Investors Service said it affirmed the issuer rating and the senior unsecured debt ratings of AIA Group Ltd. at A2 and affirmed the insurance financial strength ratings of AIA Co. Ltd. (AIA Co) and AIA International Ltd. (AIA International) at Aa2.

The outlook is stable.

The affirmation follows AIA Group’s announcement on Sept. 21 that AIA International reached an agreement to acquire Commonwealth Bank of Australia's life insurance business in Australia and life and health insurance businesses in New Zealand. The company also agreed to enter into 20-year strategic bancassurance partnerships with Commonwealth and ASB Bank Ltd. The gross consideration to be paid with respect to the transaction is A$3.8 billion.

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