Reinsurance News
AXA
AXA is a large, global insurance and reinsurance group headquartered in France.
The company has a long history in the insurance and reinsurance sector, providing a wide range of coverages, from personal lines through complex risks and reinsurance protection.
Read all of our AXA insurance and reinsurance news below.
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
AXA partners with Western Union on inclusive insurance
19th June 2020
Global insurer AXA has announced a new collaboration with The Western Union Company, which specialises in cross-border, cross-currency money movement and payments, to provide inclusive insurance products to Western Union’s customers. By linking insurance to money transfer services, the partnership will help to better cover migrant workers and their families at ... Read the full article
Xavier Veyry named CEO Asia & Europe at AXA XL
9th June 2020
AXA XL, the property & casualty and specialty risk division of AXA, has announced the appointment of Xavier Veyry as Chief Executive Officer (CEO) Asia & Europe. In his new role, Veyry will join the company's newly configured leadership team, and will report to CEO, Scott Gunter. Currently, Veyry serves as Country ... Read the full article
AXA & Friday Health Plans enter into multi-year reinsurance arrangement
9th June 2020
Friday Health Plans, a health insurance company focused on the individual consumer, has entered into a multi-year quota-share reinsurance agreement with the Life and Health international solutions arm of global re/insurer AXA. The financing arrangements are designed to accelerate Friday Health Plans' growth plans in both its current and new markets, ... Read the full article
AXA puts P&C virus claims at €1.2bn, cuts dividend
3rd June 2020
Global insurer AXA has estimated that the COVID-19 pandemic will result in an overall P&C claims cost of €1.2 billion, post-tax and net of reinsurance. The figure came alongside news that the company will cut its dividend almost in half, from €1.43 per share to €0.73 per share. This decision, approved by ... Read the full article
AXA UK broadens use of live video to settle commercial property claims
2nd June 2020
AXA UK is set to broaden its use of live video to settle commercial property claims, as the insurer renews its contract with software provider Verisk. The ClaimXperience app is already being used by AXA’s household customers, who can show escape of water damage in real time to their home insurer. The ... Read the full article
AXA XL launches global admitted commercial umbrella solution
21st May 2020
AXA XL, a division of AXA Group, has announced that its Global Risk Management (GRM) and the North America Excess Casualty business units have collaborated to launch Multipass, a new global admitted commercial program. The new product brings together a global controlled master program with an umbrella liability solution to create ... Read the full article
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