Reinsurance News

AXA

AXA SA gets ratings upgrade following reinsurance approval

12th May 2022

S&P Global Ratings has decided to upgrade the ratings of AXA SA, after it was granted regulatory approval to expand its business scope as an operating reinsurance company and internal reinsurer in addition to being a holding company. Specifically, S&P raised its long- and short-term issuer credit ratings on AXA ... Read the full article

AXA approved to transform holding company into internal reinsurer

11th May 2022

AXA has gained regulatory approval for its previously announced plans to transform AXA S.A., the holding company of French insurer AXA Group, into the company’s internal reinsurer via a merger with the Group’s current captive internal reinsurer. The plans were first revealed back in February 2022, with the initiative intended to ... Read the full article

AXA XL reports Q1 revenue growth to €6.2bn as nat cat reduction continues

6th May 2022

AXA XL, the property and casualty (P&C) and specialty risk division of AXA, has reported revenue growth of 4% to €6.2 billion in the first-quarter of 2022, despite a steep reduction in natural catastrophe exposure within reinsurance. French insurer and reinsurer AXA has now released its Q1 2022 results, which show ... Read the full article

AXA XL hires Snyder as VP, Senior Underwriter, Excess Casualty, Bermuda

29th April 2022

AXA XL has appointed Christine Snyder to its Bermuda Insurance Excess Casualty team as Vice President, Senior Underwriter. Within this role Snyder’s responsibilities will include delivering profitable underwriting service to clients, which will involve her developing and managing underwriting strategies for renewed and new business within AXA XL’s Excess Casualty portfolio, ... Read the full article

AXA reconfigures its board of directors

29th April 2022

AXA has appointed Antoine Gosset-Grainville and Thomas Buberl as the respective chairman and CEO of the insurer’s board of directors. The firm announced, in a statement, that the appointments follow the approval of the board of directors’ resolutions at its Annual General Meeting. Gosset-Grainville will replace Denis Duverne as chairman of ... Read the full article

AXA XL names Enrique López Torrents as Country Manager, Iberia

29th April 2022

AXA XL, the property and casualty (P&C) and specialty risk division of AXA, has announced the appointment of Enrique López Torrents as Country Manager, Iberia, effective May 9, subject to regulatory approval. Within this role, Enrique will succeed José Ramón Morales, who will be leaving AXA XL to pursue opportunities outside ... Read the full article

Allianz latest to rule out insuring East African Crude Oil Pipeline

11th April 2022

Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article

AXA condemns Russia’s invasion of Ukraine

28th March 2022

Since the start of Russia’s invasion of Ukraine, global insurer AXA has fully enforced all international sanctions, having stopped underwriting new insurance business, as well as all renewals, with respect to Russian owned assets located in Russia. The insurer has also stopped all new investments in Russian assets. With respect to AXA’s ... Read the full article

AXA XL names Bewlay as Chief Executive Reinsurance as Cooper steps down

9th March 2022

AXA XL, the property & casualty and specialty risk division of global insurer AXA, has named Nancy Bewlay as its new Chief Executive Reinsurance, taking over from Charles Cooper. Bewlay brings more than three decades of industry experience to the role and has held numerous senior roles at XL Catlin and ... Read the full article

AXA to transform holding company into Group’s internal reinsurer

24th February 2022

AXA S.A., the holding company of French insurer AXA Group, is to be transformed into the company's internal reinsurer via a merger with the Group's current captive internal reinsurer. Under the plans, AXA S.A. will become a licensed reinsurance entity once it has absorbed AXA Global Re, the existing captive. The idea ... Read the full article

Strong P&C performance sees AXA report 61% rise in underlying earnings for 2021

24th February 2022

Global insurer AXA has reported a 61% rise in underlying earnings for 2021 to €6.8 billion, driven by a strong performance in its property and casualty (P&C) operation and a strong underwriting result, notably at AXA XL. Across the Group, gross revenues were up by 6%, year-on-year, to more than €99.9 ... Read the full article

HSBC completes AXA Singapore purchase

14th February 2022

AXA has completed the sale of AXA Singapore to HSBC for a reported $529m. The amount being paid is less than was reported here in August, when Reinsurance News wrote that the sale was slated to be for $575m. That followed reports in January that HSBC Holdings was among the ... Read the full article

AXA makes two leadership appointments

3rd February 2022

Global insurer AXA has promoted its current Head of Investor Relations, Andrew Wallace-Barnett as Group Chief Compliance Officer, succeeding Ian Johnson who will be retiring after a 30-year career in the Group. Wallace-Barnett will report to George Stansfield, Group Deputy CEO, General Secretary, and a Member of the AXA Group Management ... Read the full article

AXA XL promotes Andrew Maynard

1st February 2022

AXA XL, the property & casualty and specialty risk division of global insurer AXA, has named Andrew Maynard as its new Head of Life, Accident & Health (A&H), UK & Lloyd's, effective immediately. Maynard takes on responsibility for leading all underwriting activities for the UK & Lloyd's A&H operation, and for ... Read the full article

German court sides with insurers over lockdown payouts

27th January 2022

A court in Germany has ruled that insurers are not automatically entitled to pay compensation to restaurants and hotels forced to close during the country’s initial coronavirus lockdowns. The ruling from the federal court in Karlsruhe follows a case from a restaurant owner in Travemunde who sued AXA due to an ... Read the full article