Reinsurance News
AXA
AXA XL names new Head of M&A & Title, UK & Lloyd’s
23rd February 2024
AXA XL, the P&C and specialty risk division of global insurer AXA, has announced the promotion of Simon Price to Head of M&A & Title – UK & Lloyd's. Price has been with the company for seven years, and has held several management roles within the Mergers & Acquisitions (M&A) team. Having ... Read the full article
AXA grows European windstorm reinsurance by 40% to €3.9bn for 2024
22nd February 2024
Global insurance and reinsurance firm AXA has purchased significantly more protection for its European exposures at the January 2024 renewals, growing its European windstorm reinsurance in particular by 40% to reach €3.9 billion. AXA has purchased significantly more catastrophe reinsurance limit overall for 2024, with its European flood reinsurance tower also ... Read the full article
AXA XL’s CoR strengthens to 93.2% as GWP hits €53bn in 2023
22nd February 2024
Global insurer AXA's P&C and specialty risk division, AXA XL, recorded a 4.2 percentage point improvement in its combined ratio in 2023 to 93.2%, as gross written premiums (GWP) and other revenues rose 7% year-on-year to €53 billion, despite a reduction in the reinsurance arm. At AXA XL Reinsurance, premiums decreased ... Read the full article
AXA Health enters into strategic reinsurance agreement with NextGen i.i.
30th January 2024
AXA PPP Healthcare Limited (AXA Health), the global life and health reinsurance firm, has entered into a reinsurance agreement with NextGen International Insurance (NextGen i.i) to introduce new International Private Medical Insurance (IPMI) solutions to the market. This collaboration aims to significantly enhance the insurance solutions available in the market, and ... Read the full article
Insurtech BOXX Insurance launches advanced cyber risk mitigation solution in partnership with AXA
30th January 2024
Insurtech firm BOXX Insurance, in partnership with AXA, has unveiled a cyber risk mitigation solution designed to offer vital support to small businesses. Recognising the pressing need for comprehensive protection against cyber threats for smaller enterprises, BOXX Insurance's user-friendly solution aims to assist businesses in predicting and preventing potential cyber attacks. Vishal ... Read the full article
AXA France enters into a reinsurance agreement for an in-force savings portfolio
22nd December 2023
Global insurer, AXA Group, has announced that its subsidiary AXA France Vie has entered into a reinsurance agreement with AXA Réassurance Vie France (ARVF), a reinsurer co-owned by AXA Assurances Vie Mutuelle1 and AXA Assurances IARD Mutuelle According to the announcement, the reinsurance agreement with ARVF will cover a total of ... Read the full article
AXA Climate and Howden partner on flood resilience project for Togo
6th December 2023
AXA Climate, part of global insurer AXA Group, London-based broker Howden, and Togo-based non-governmental organisation Pionniers en Action pour le Développement Intégré à l’Environnement (PADIE), will be implementing the project for Togo’s fourth-largest city, Kloto 1, and key flood hot spots in the capital city Lomé – Golfe 1 and ... Read the full article
Shanghai’s reinsurance trading platform signs first inwards deal
9th November 2023
The Shanghai Insurance Exchange’s international reinsurance trading platform, which was launched last month, recently signed its first inward business agreement at the sixth China International Import Expo. AXA Hong Kong Property & Casualty Insurance was the original insurer, while AXA Tianping Property & Casualty Insurance served as the reinsurer. The trade ... Read the full article
AXA grows P&C business, but cuts property cat reinsurance exposure
3rd November 2023
French insurer AXA has reported 7% growth in gross written premiums (GWP) & other revenues to €41.8 billion for 9M 2023 within its property and casualty (P&C) business, as growth in commercial and personal lines more than offset a year-on-year decline at AXA XL Reinsurance. Commercial lines premiums rose 9% to ... Read the full article
AXA completes acquisition of Corebridge Financial’s Laya Healthcare
1st November 2023
Corebridge Financial, one of the largest providers of retirement solutions and insurance products in the US, has completed the sale of Laya Healthcare Limited to a subsidiary of AXA. The sale was previously announced back in August 2023. It was stated that AXA would acquire Laya Healthcare for a total ... Read the full article
Trust in insurers is growing in a world in polycrisis: AXA
1st November 2023
Risks associated with artificial intelligence (AI), cybersecurity and global warming are among the main concerns for the general population; however, trust in various players, like insurers and scientists, to limit the consequences of new global crises is growing, according to a recent AXA report. The tenth edition of its Future Risks ... Read the full article
AXA XL & AXA Research Fund join CCRS to help mitigate system risks
24th October 2023
Both AXA XL and the AXA Research Fund have joined a research hub created by the Cambridge Centre for Risk Studies (CCRS) to help mitigate systemic risks like climate change, pandemics, cyber threats, geopolitical change and financial crisis. According to the announcement, the Cambridge Systemic Risks Hub has a particular focus ... Read the full article
AXA to acquire Corebridge Financial’s Laya Healthcare for €650m
3rd August 2023
Corebridge Financial, one of the largest providers of retirement solutions and insurance products in the US, has entered into a definitive agreement to sell its subsidiary, Laya Healthcare Limited (Laya Healthcare), to AXA for a total consideration of €650 million in cash. According to the announcement, the sale is expected to ... Read the full article
AXA XL’s combined ratio strengthens to 90.9% in H1 2023 as premiums rise
3rd August 2023
French insurer AXA has today announced a year-on-year rise in total gross written premiums (GWP) and other revenues of 2% to €55.7 billion for the first half of 2023, driven by 7% growth at AXA XL, its property and casualty (P&C) and specialty division. Across AXA XL, GWP and other revenues ... Read the full article
AXA deploys secure generative AI to employees
28th July 2023
AXA, a worldwide leader within insurance and asset management, has announced the deployment of AXA Secure GPT- an internal service built on Microsoft’s Azure OpenAI Service. AXA's in-house team developed AXA Secure GPT within three months, leveraging the firm's collaboration with Microsoft. The new system allows AXA employees to have access to ... Read the full article