Reinsurance News
AXA
AXA XL division to adopt AXA Group’s climate strategy
29th November 2018
AXA Group has announced that its sustainability and climate strategy will be extended to AXA XL, the division that was established following the acquisition of XL Group. The move will see AXA XL, which focuses on large property and casualty (P&C) Commercial Lines, implement the Group’s Corporate Responsibility policies, including those ... Read the full article
AXA eyes profit boost in wake of $15bn XL acquisition
28th November 2018
With its investor day being held today, French insurance and investment giant AXA has said it expects the group’s profitability to improve over the next two years due to fresh U.S business bought in by its XL arm, and stated that focus would now be on expanding its operations in ... Read the full article
AXA acquires remaining €584m stake in Chinese joint P&C venture
27th November 2018
French insurance and investment giant AXA has purchased the remaining 50% of Chinese property and casualty (P&C) insurer AXA Tianping that it did not previously own in a €584 million transaction. This deal follows yesterday’s announcement that Allianz had received approval from the China Banking and Insurance Regulatory Commission for the ... Read the full article
AXA to sell its operations in Ukraine
24th October 2018
French insurance and investment giant AXA has announced that it is to sell all its insurance operations in Ukraine to Toronto-headquartered holding company Fairfax Financial. The deal will see AXA exit the Ukrainian market. Under the terms of the agreement, Fairfax would acquire 100% of the non-life entity AXA Insurance and the ... Read the full article
AXA XL appoints UK CEO for Catlin Underwriting and Insurance
24th September 2018
AXA XL has appointed Paul Greensmith as Chief Executive Officer (CEO) of its legal entities, Catlin Underwriting Agencies Ltd and XL Catlin Insurance Company UK Limited. Greensmith will take over from Paul Jardine, who is due to leave XL Catlin later this year. He will be tasked with developing the strategy ... Read the full article
AXA completes acquisition of XL Group
13th September 2018
French insurance and investment giant AXA has announced that it has completed its acquisition of Bermudian property and casualty (P&C) insurance and reinsurance firm XL Group Ltd. The completion of the transaction follows the fulfilment of all necessary closing conditions, including approval by XL Group shareholders and obtention of all necessary ... Read the full article
IDF appoints AXA’s Denis Duverne as Chair of Steering Committee
12th September 2018
The Insurance Development Forum has announced the appointment of Denis Duverne as Chair of its Steering Committee, effective September 11. Duverne, who succeeds Stephen Catlin, is Chairman of AXA Group and has held senior roles, including Chief Financial Officer and Deputy Chief Executive Officer, at the global insurer since 1995. “I would ... Read the full article
AXA to sell Life Europe platform to Cinven for €1.2bn
2nd August 2018
AXA Group has entered into an agreement with global private equity firm Cinven for the potential sale of AXA Life Europe (ALE), the company’s Ireland-based Variable Annuity products platform, for €1.2 billion (US $1.4 billion). The total cash proceeds for the sale of ALE, which has been closed to new business ... Read the full article
AXA and XL Group reveal branding for combined operations
11th July 2018
AXA and XL Group have revealed the branding and structure of their future combined operations, to be known as AXA XL, following AXA’s acquisition of XL Group for $15.3 billion in March 2018. Once the acquisition is completed, the new AXA XL division will operate under the ... Read the full article
ING steps back into insurance sector with exclusive AXA partnership
14th June 2018
A multi-year, exclusive bancassurance partnership between major lender ING and insurance giant AXA has been announced that will see property & casualty (P&C), health and protection insurance solutions offered to ING customers in six countries - France, Germany, Italy, Czech Republic, Austria and Australia - via its mobile app. This agreement ... Read the full article
XL shareholders approve AXA merger agreement
6th June 2018
The common shareholders of XL Group Ltd have approved an agreement for the re/insurer to be 100% acquired by AXA for $15.3 billion, to be fully paid in cash. Under the transaction, which is expected to close in the second-half of 2018 subject to regulatory approvals, XL shareholders will receive $57.60 ... Read the full article
Global reinsurer rankings volatile, Berkshire Hathaway breaks into top 3: S&P
30th May 2018
S&P Global has reported that the rankings of the largest global reinsurers could be subject to volatility, as Warren Buffett’s Berkshire Hathaway was propelled into the top 3 last year following the $10.2 billion premium it collected from its adverse development deal with AIG. Further disruption could be caused by ... Read the full article
AXA & Uber partner for driver coverage across Europe
25th May 2018
A joint announcement has been issued by leading insurance provider AXA and ridesharing giant Uber providing comprehensive coverage for its drivers and couriers within Europe. Coined Partner Protection and active from June 1, Uber will provide a range of protections including accident, injury, illness, and paternity benefits for drivers and couriers ... Read the full article
XL announces leadership changes as it prepares for AXA integration
15th May 2018
Global insurer and reinsurer XL Group has announced a range of leadership changes within the XL Catlin Insurance Leadership Team, and the XL Group Leadership Team, in preparation for its planned integration with the AXA Group. Firstly, reinsurance operations will continue to be led by Charles Cooper. Within Insurance, XL Group ... Read the full article
AXA to remodel Swiss group life business as semi-autonomous
10th April 2018
AXA Switzerland, the largest re/insurer of small-to-medium enterprises (SMEs) in the Swiss market, has announced plans to convert the business model of its main occupational benefits foundations from a full-value insurance model to a semi-autonomous model. From 2019, the foundations will be responsible for asset allocation and investment returns to policyholders, ... Read the full article