A.M. Best placed Mansard's ratings under review with developing implications.

We reported it here that French Insurer, AXA will own Mansard Insurance Plc,  after entering into an agreement to acquire 100% of Assur Africa Holdings Limited (AAH), which currently holds a 75% stake in Mansard.

A.M. Best Company, the world's oldest and most authoritative insurance rating and information source, has placed under review with developing implications, the Financial Strength rating of B(fair) and the Issuer Credit rating of BB+ of Mansard Insurance Plc. This is to enable them assess the impact of the acquisition on Mansard's prospective business and capital management strategy.

A.M. Best expects the status of under review with developing implications to be resolved in the first quarter of 2015.