Reinsurance News
AXA
AXA XL’s Q1 revenue growth offset by 2% reinsurance drop
3rd May 2019
AXA XL has reported total revenue growth of 7% for the first quarter of 2019, driven by 16% growth for P&C insurance and 4% growth for specialty, but offset by a 2% decline for reinsurance. Total revenue rose to €6.1 billion, made up of €2.9 billion from P&C insurance, €1.4 billion ... Read the full article
SCOR & AXA commit to more coal exclusions
26th April 2019
French re/insurers SCOR and AXA have both committed to strengthening their coal exclusion policies in an effort to limit the effects of climate change, according to environmental campaigners at Unfriend Coal. A representative from the activist group questioned the companies at their annual general meetings this week, who both claimed to ... Read the full article
AXA to further reduce earnings volatility with increased use of reinsurance: Analysts
2nd April 2019
Following its acquisition of XL Group last year, global insurer AXA has been de-risking its catastrophe exposure, a trend that J.P. Morgan analysts expect to continue in 2019, with the help of alternative reinsurance capital. During last year, AXA and XL Group ceded increased volumes of catastrophe exposure to reinsurance and ... Read the full article
Gilles Moëc to join AXA as Group Chief Economist
28th March 2019
AXA has announced that Gilles Moëc is to join from Bank of America Merrill Lynch as its new Group Chief Economist, effective June 3rd, 2019. Currently the Chief European Economist of Bank of America Merrill Lynch, Moëc's new position will see him report to the Chief Executive Officer (CEO) of AXA Investment ... Read the full article
AXA raises $1.5bn by reducing stake in US life insurance business
27th March 2019
AXA S.A. (AXA) has successfully offloaded 76 million shares of its US life insurance business AXA Equitable Holdings (EQH), decreasing its ownership from 60.1% to 48.3% and raising $1.5 billion in net proceeds. The sale consisted of a secondary public offering of 40 million shares - at a public offering price ... Read the full article
AXA unit eyes blockchain for faster, more secure job loss policy payments
18th March 2019
AXA Partners, a unit of global insurer AXA, is teaming up with the Swedish government’s Public Employment Service and the startup Stratumn on a blockchain-based solution aimed at accelerating and simplifying the payment of job loss policies. AXA Partners says the solution will significantly shorten the claim process duration, remove administrative ... Read the full article
AXA saves nearly $200mn on reinsurance costs with 2019 integrated program
22nd February 2019
Global insurer AXA has outlined its restructured, integrated reinsurance program for 2019, the placement of which resulted in a cost saving of almost $200 million, according to AXA Group's Chief Risk Officer (CRO), Alban de Mailly Nesle. The firm announced previously that it expected the placement of its 2019 integrated reinsurance ... Read the full article
Costly natural disasters see AXA XL slump to €233m full year loss
21st February 2019
AXA XL, the newly-formed division of French insurance and investment giant AXA, has seen significant impacts from two major natural catastrophes in the fourth quarter of 2018 result in the posting of a €233 million full year loss. The California wildfires, which consisted mainly of the Camp and Woolsey fires in Northern ... Read the full article
AXA targets China’s travel insurance market using WeChat app
6th February 2019
AXA is targeting the lucrative travel insurance market in China with a new offering that is integrated directly into the WeChat mobile app. More than one billion users in China alone use WeChat to access instant messaging and manage e-commerce services, making it the most popular app in the country. AXA plans ... Read the full article
AXA’s Jad Ariss named Secretary General of The Geneva Association
1st February 2019
The Geneva Association, a leading international insurance industry think tank, has appointed Jad Ariss Secretary General, effective 1 March. Ariss joins The Geneva Association after a distinguished and diverse career of which his multiple senior positions at AXA are a centrepiece. Ariss joined AXA in 1995 as Chief Financial Officer of AXA ... Read the full article
AXA Venture Partners raises $150m for early stage insurtech investments
23rd January 2019
AXA Venture Partners (AVP), the venture capital arm of French insurer AXA, has raised $150 million for its second early stage fund, AVP Early Stage II. Similar to AVP’s first early stage fund, which was completed back in 2015 and raised $110 million, AVP Early Stage II will focus on North America, ... Read the full article
Shali Vasudeva to leave Hiscox for AXA UK COO role
22nd January 2019
Shali Vasudeva is set to join AXA UK and Ireland from insurer Hiscox as Chief Operating Officer (COO), a newly created position, effective March 1st, 2019. The appointment remains subject to regulatory approval, and will see Vasudeva deliver more robust operational stability across the firm, as well as lead a Transformation ... Read the full article
Allianz, AXA & Swiss Re among brands most praised for climate actions
21st January 2019
Re/insurers Allianz, AXA and Swiss Re are among the top five companies to receive the praise from non-governmental organisations (NGOs) in 2018 due to their actions on climate change. Data compiled by research consultancy SIGWATCH shows that the trio of re/insurers overtook global brands such as McDonald’s, Aldi and H&M as ... Read the full article
AXA to move int. risk & reinsurance units to Ireland due to Brexit
10th January 2019
AXA is reportedly planning to move its international risk and reinsurance operations from the UK to Ireland in preparation for the UK’s departure from the European Union (EU) in March 2019, according to Reuters. The publication claimed that a subsidiary in Dublin will handle AXA’s large European risks and reinsurance, while ... Read the full article
Berkshire Hathaway, Chinese insurers climb “World’s Largest” ranking
8th January 2019
The insurance operations of Warren Buffett's conglomerate Berkshire Hathaway Inc. and China's largest insurance companies are the biggest climbers in A.M. Best's ranking of the World's Largest Insurers. The ranking of the world's largest insurance companies is available to view here on Reinsurance News, in collaboration with A.M. ... Read the full article