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AXA wraps up €1bn sale of Central European businesses

16th October 2020

Insurance and investment giant AXA has completed the sale of its life & savings, property & casualty and pension businesses in Poland, Czech Republic and Slovakia to UNIQA Insurance Group for €1 billion. UNIQA had been pegged as one of three bidders in the running to secure AXA’s Central and Eastern ... Read the full article

Tara Foley named CEO of AXA UK Retail Insurance

15th October 2020

AXA UK & Ireland has announced the appointment of Tara Foley as Chief Executive Officer (CEO) of AXA UK Retail Insurance. Effective November 2nd, Foley’s appointment will also see her become a member of the UK & Ireland Management Committee. Foley joins AXA from Lloyds Banking Group (LBG), where she has been ... Read the full article

Pandemic overtakes climate change as top market concern: AXA

1st October 2020

The latest Future Risks Report from AXA has found that pandemic and infectious diseases have risen quickly to become the foremost concern of risk management experts and the general public this year. Previously ranked as the eighth most concerning risk in 2019, the global outbreak of COVID-19 has since propelled the ... Read the full article

AXA XL reveals carbon management strategy

29th September 2020

AXA XL, the property & casualty and specialty risk division of AXA, has released details of its carbon management strategy, designed to accelerate the company's contribution to the transition towards a less carbon-intensive economy by 2050. After monitoring its consumption over the past several years and using 2019 as a baseline, ... Read the full article

AXA XL launches IoT solution to monitor building health

25th September 2020

AXA XL, the property & casualty and specialty risk division of AXA, is accelerating the scaling of its new Digital Risk Engineer proposition designed to allow a company to monitor the “health” of its buildings and assets. Digital Risk Engineer will be available globally and uses Internet of Things (IoT) devices installed ... Read the full article

AXA XL promotes Jonathan Salter to Head of Risk Consulting

23rd September 2020

AXA XL, the property & casualty and specialty risk division of AXA, has announced the promotion of Jonathan Salter to Head of Risk Consulting, effective October 1st, 2020. In his new role, Salter will be responsible for driving the Risk Consulting strategy and value proposition across the globe, working closely with ... Read the full article

AXA & Bharti to combine their Indian non-life operations into ICICI Lombard

26th August 2020

AXA and Bharti have announced an agreement to combine their non-life insurance operations in India, Bharti AXA General Insurance Company Limited, into ICICI Lombard General Insurance Company Limited. Following the transaction, the combined entity will be ranked number three amongst non-life insurers in India, with an increased market share of ca ... Read the full article

AXA eyeing $177mn sale of Greek business to Generali: reports

17th August 2020

AXA is reportedly considering the sale of its Greek operations to Itay’s Generali after an estimated value of $177 million was placed on the unit by parties from both companies. Bloomberg, citing people familiar with the matter, describe the move as an opportunity to relinquish business lines deemed surplus to requirements. Representatives ... Read the full article

AXA exploring sale of Singapore unit: reports

11th August 2020

Global insurer and reinsurer AXA is reportedly exploring options for selling its Singapore unit in a bid to raise funds, according to sources at Bloomberg. The publication says AXA is working with an advisor on a potential sale, with an eye to starting a sale process within the next few weeks. However, ... Read the full article

AXA’s sale of its Life Europe platform to Cinven falls through

6th August 2020

AXA has agreed to terminate its previously announced sale agreement with private equity firm Cinven, which would have seen the insurer offload its AXA Life Europe (ALE) business for €1.2 billion (US $1.4 billion). Alongside the release of its Q2 results, AXA said that certain closing conditions for the ... Read the full article

AXA’s underlying earnings fall to €1.9bn amid 72% decline in P&C on COVID-19

6th August 2020

Global insurer and reinsurer AXA has reported a 48% decrease in underlying earnings to €1.9 billion for the first half of 2020, driven mostly by a 72% decline in property and casualty (P&C) business primarily as a result of the impacts of the COVID-19 pandemic. The French re/insurer has reaffirmed its ... Read the full article

SRL makes rating adjustments for Lloyd’s syndicates 4472, 2003

27th July 2020

Syndicate Research Limited (SRL) has provided rating adjustments for Liberty Mutual-owned Lloyd’s syndicate 4472 and AXA’s syndicate 2003. Syndicate 4472 is ultimately 100% backed by Liberty Mutual and with a 2020 capacity of £1.1bn, writes an Excess of Loss-orientated account. SRL has affirmed the syndicate’s B+^ (Above Average) Continuity Opinion, while its ... Read the full article

Genworth reaches PPI settlement with AXA

21st July 2020

Mortgage insurer Genworth Financial has reached an agreement with AXA to settle a dispute that relates to liability for payment protection insurance (PPI) mis-selling losses. The losses concern mis-selling complaints for PPI underwritten by two companies that AXA acquired from Genworth in 2015, for policies sold from 1970 through 2004. Although Genworth ... Read the full article

AXA inks insurance contract with low-carbon cement manufacturer

15th July 2020

Global insurer AXA is to provide Hoffmann Green Cement Technologies with an insurance contract protecting the manufacturing process of its low-carbon H-UKR cement. H-UKR cement is a binder perfected and developed by Hoffmann Green that has a substantially lower carbon footprint than traditional varieties. Hoffmann Green now has a contract covering the ... Read the full article

COVID-19 shows critical role of re/insurance: AXA CEO Buberl

1st July 2020

The COVID-19 crisis has highlighted the “critical role” that re/insurance has in protecting societies and driving economic growth, according to Thomas Buberl, Chief Executive Officer (CEO) of AXA. Speaking alongside the company’s Annual Shareholders’ Meeting in Paris, Buberl said that pandemic would motivate AXA to transform its business practices and focus ... Read the full article

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