Reinsurance News


AXA in €300mn settlement offer to 15,000 restaurant clients over COVID claims

10th June 2021

AXA France has today announced a settlement offer of €300 million, gross of tax and before reinsurance, to 15,000 restaurant owners who hold non-damage business interruption (BI) policies. The settlement applies to the 15,000 restaurant owners who hold AXA France's "standard policy" with extended cover for BI losses linked to administrative ... Read the full article

AXA XL appoints Andrew Diesel to casualty risk consultancy role

4th June 2021

AXA XL, the property & casualty and specialty risk division of AXA, has added Andrew Diesel as casualty risk consultant, fleet in the Americas. Diesel will provide technical support to AXA XL's underwriters and clients primarily in the US and Canada. He’ll also take responsibility for executing engagements with clients, including in ... Read the full article

Generali completes takeover of AXA’s Greek business

1st June 2021

Generali has completed its acquisition of AXA's Life & Savings and Property & Casualty businesses in Greece, for a total cash consideration of €167 million. Announced back in December 2020, the deal also sees Generali enter into a 20-year exclusive distribution agreement with Alpha Bank. The partnership with Alpha Bank, which ... Read the full article

Fitch Ratings turns positive on AXA off improving XL performance

28th May 2021

Fitch Ratings has revised its outlook on AXA and its core insurance subsidiaries' Insurer Financial Strength (IFS) Ratings, changing AXA's Long-Term Issuer Default Rating (IDR) to Positive from Stable. Fitch’s revision is driven primarily by an expectation for the AXA group to secure a property and casualty combined ratio sustainably below ... Read the full article

AXA reports 2% revenue growth for Q1; favourable price effects at AXA XL

4th May 2021

Global insurer AXA has reported total revenue growth of 2% for the first quarter of 2021 to €31 billion, driven in part by favourable price effects at AXA XL which helped its commercial lines segment grow by 4% to €11.6 billion during the period. Across AXA's property and casualty (P&C) operation, ... Read the full article

AXA to target environmentally positive & inclusive insurance

30th April 2021

Global insurer AXA has launched a progress index to measure its implementation of several new climate and inclusivity targets. On the insurance side, these include strengthening the share of insurance products with a positive impact on the environment, through the guarantees or services offered, as well as the promotion of inclusive ... Read the full article

AXA partners with Microsoft to build digital healthcare platform

14th April 2021

Global insurer AXA is collaborating with Microsoft to build a digital healthcare platform, which will allow virtual healthcare to all AXA customers. The new platform will rely on the extensive portfolio of technology in the Microsoft Cloud for Healthcare, including Azure API for FHIR (Fast Healthcare Interoperability Resources), that enables patient ... Read the full article

Jef Van In appointed AXA Next CEO and Group Chief Innovation Officer

12th April 2021

Global insurer AXA has announced the appointment of Jef Van In as Chief Executive Officer (CEO) of AXA Next Group and Group Chief Innovation Officer (CIO), effective July 1st, 2021. In his new role, Van In will report to Antimo Perretta, CEO of AXA Europe and a Member of the company's ... Read the full article

AXA issues €1bn of green bonds

7th April 2021

Global insurer AXA has successfully placed €1 billion of subordinated green bonds, which will be issued under AXA Group’s newly established Sustainability Bond Framework. This first green subordinated bond issuance to institutional investors is due 2041 and the initial fixed coupon has been set at 1.375% per annum. AXA reported that investor ... Read the full article

AXA announces several key senior leadership changes globally

25th March 2021

Global insurer AXA has announced key changes to its senior leadership team as the company looks to successfully execute the strategic plan presented in December last year. With Driving Progress 2023 it’s hoped AXA’s renewed leadership team and simpler organisation will accelerate the execution of its strategic priorities and to consolidate ... Read the full article

Major re/insurance players commit $2mn to Oasis Loss Modelling Framework

23rd March 2021

A number of the world’s biggest players in re/insurance have committed additional funds to support the development of open source catastrophe modelling platform Oasis. Companies include Aon, Allianz, AXA, Chubb, Guy Carpenter, Hannover Re, Lloyd’s, RenaissanceRe, Swiss Re, SCOR, Willis Re and the Insurance Development Forum. The supporting international re/insurers and brokers ... Read the full article

Hannover Re in £3bn longevity swap with AXA UK Pension Scheme

18th March 2021

Hannover Re has entered into a longevity swap transaction with the AXA UK Group Pension Scheme, which will protect £3 billion of mostly deferred pension liabilities held in the Scheme’s Defined Benefit plan. The swap, which closed on 27 February 2021, will form part of the Scheme’s investment portfolio, building upon ... Read the full article

Gosset-Grainville to succeed Denis Duverne as AXA Chairman

12th March 2021

Global insurer AXA has revealed that Denis Duverne will retire from his position as Chairman of AXA's Board of Directors in April of 2022, and will be succeeded by Antoine Gosset-Grainville. After a comprehensive succession process led by the firm's Compensation & Governance Committee over the past two years, the Board ... Read the full article

AXA Partners and Ancileo renew partnership

12th March 2021

AXA’s global Business-to-Business-to-Consumer unit AXA Partners and Ancileo have announced a renewal of their partnership to further bolster their position in the travel insurance market post-pandemic. Ancileo is a digital insurance platform provider which specialises in providing insurance technology, API & insurance software solutions to insurers. The technology developed by Ancileo allows ... Read the full article

Industry survey reveals divided census over 2021 P&C covid losses

1st March 2021

A comprehensive survey of Reinsurance News' industry contacts has revealed a clear divide in expectation for 2021's eventual COVID-19 impact on the Property & Casualty segment, with 27% of respondents feeling the figure will fall over $100 billion. A further 27% felt the eventual loss would land between $70 billion and ... Read the full article

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