AXA XL’s Reinsurance, as part of the ongoing work to simplify legal entity structure, is set to make the business more consistent with AXA Group’s structure, which aligns businesses to legal entities.
The company will write all new and renewal contracts via dedicated reinsurance legal entities as of January 1, 2022.
This will include writing Bermuda renewal reinsurance contracts on AXA XL Reinsurance Ltd paper, rather than on XL Bermuda Ltd paper and renewing Lloyd’s reinsurance contracts on XL Re Europe SE paper rather than via Lloyd’s syndicate 2003.
AXA XL Reinsurance will continue to write domestic US and Canada reinsurance contracts on XL Re America Inc. paper.
The changes will not impact any of its in-force reinsurance contracts or the way that the company interacts with brokers and clients.
AXA XL’s Insurance business will continue to be written on XL Bermuda Ltd paper and Lloyd’s Syndicate 2003 as Bermuda and Lloyd’s remain key markets for that business.
