Reinsurance News
AXA
AXA acquires Groupe Assurances du Crédit Mutuel España
13th July 2023
Global insurer AXA has announced the completion of the acquisition of Groupe Assurances du Crédit Mutuel España (GACM España). GACM España is a predominantly P&C and health insurance subsidiary in Spain. Under the terms of the transaction, AXA has acquired GACM España for a total cash consideration of €310 million, in line ... Read the full article
AXA reportedly considering sale of reinsurance arm
12th July 2023
French insurer AXA is reportedly considering the sale of reinsurance division, AXA XL Re, in an effort to lower its exposure to natural disasters, reports Reuters. According to people familiar with the matter, the large insurer is discussing strategic options for the reinsurance arm which sits under AXA XL, including a ... Read the full article
AXA announces new decarbonisation targets
30th June 2023
AXA has revealed its targets to drive the decarbonisation of various P&C insurance portfolios, with the firm stating it will reduce the absolute carbon emissions of its largest commercial insurance clients by 30% by 2030. AXA's targets also include increasing its business in the field of renewable energies, and more broadly ... Read the full article
AXA and Capco partner on climate-related risk management and reporting solution
9th June 2023
AXA Hong Kong and Macau, part of global insurance group AXA, has entered into a strategic partnership with technology and management consultancy firm, Capco, to enhance data-driven climate risk assessment and reporting. The new collaboration brings together AXA's proprietary climate risk models with Capco's climate consulting expertise for risk assessment, in ... Read the full article
Europ Assistance expands in Asia-Pacific with AXA Partners acquisition
8th June 2023
Europ Assistance has acquired several of AXA Partners’ assistance businesses in the Asia-Pacific region, a move that supports the company’s strategic expansion. The acquisitions cover a number of assistance subsidiaries in Hong Kong, Japan, Malaysia, Taiwan, and Thailand. This includes AAN and AAI Hub in Malaysia, AXA Assistance Japan, IPA Thailand, IPA ... Read the full article
AXA announces shifts in its Management Committee for 2024
7th June 2023
French insurer AXA Group has announced evolutions within its Management Committee for the launch of its next strategic plan, which will be presented during the first quarter of 2024. This comes with an overhaul of the Management Committee with new appointments that have taken place. The committee will be reporting ... Read the full article
AXA XL Re names Renaud Guidée as CEO
6th June 2023
Renaud Guidée, currently Chief Risk Officer (CRO) of AXA Group, has been appointed as the new Chief Executive Officer (CEO) of AXA XL Reinsurance, succeeding Nancy Bewlay. Guidée took over as AXA Group's CRO in 2019, having previously served as a Managing Director with Goldman Sachs’ Investment Banking Division. Effective September 1st, ... Read the full article
Lloyd’s becomes the 10th major player to mark its exit from NZIA
30th May 2023
Lloyd's announced its resignation as a member organisation from the Net Zero Insurance Alliance with immediate effect on Friday. This makes it the tenth major insurance and reinsurance player to offer its resignation since last week. Lloyd’s, the insurance and reinsurance market in London, mentioned in a statement that it will ... Read the full article
QBE and Sompo the latest re/insurers to quit NZIA
26th May 2023
QBE and Sompo Holidngs have both announced their resignations as a member organisation from the Net Zero Insurance Alliance. This news takes the total now exited from the NZIA to nine major insurance and reinsurance players. The QBE and Sompo Holdings exits come right after two other big firms, namely AXA ... Read the full article
AXA and Allianz have announced their exit from the NZIA
26th May 2023
Two more big firms namely AXA and Allianz have announced their exit from the NZIA. This news comes in post comments made by John Neal the Chief Executive of Lloyd’s of London to Reuters urging the global climate alliance for insurers to make its membership rules less prescriptive or risk ... Read the full article
AXA reports gross premiums written of €31.8 billion in Q1 2023
15th May 2023
Global re/insurer AXA has released its financial report for Q1 2023, with the company’s gross written premiums and other revenues increasing by 1% to €31.8 billion. Alban de Mailly Nesle, the Chief Financial Officer of AXA, said, “AXA performed well in the first quarter of 2023. We delivered robust growth in ... Read the full article
AXA XL names Dan Bendavid as Global Lead of Innovation
9th May 2023
AXA XL, the property & casualty and specialty risk division of AXA, has appointed Dan Bendavid as the Global Lead – Innovation within its Operations & Technology team. In this role, Bendavid will drive AXA XL's innovation strategy and oversee a global team of experts tasked with implementing focused initiatives in ... Read the full article
Allianz, Axa and Zurich ‘successfully managed’ inflation, interest rate risk: Fitch
13th April 2023
Fitch Ratings said the three main European insurance groups – Allianz, AXA and Zurich - "successfully managed" the effects of the macroeconomic environment like high inflation and interest rates. "Allianz, AXA and Zurich successfully managed 2022’s macroeconomic challenges thanks to their very strong company profiles, rigorous risk management and sophisticated asset- ... Read the full article
AXA Climate launches new functionality on its Altitude platform
12th April 2023
AXA Climate, an entity of the AXA group dedicated to climate and environmental adaptation, has launched a new functionality on its Altitude platform, aimed at providing private equity investors with a comprehensive assessment of climate, carbon and nature related risks. The Altitude platform allows asset management companies to gain a clear ... Read the full article
AXA XL hires Lait as Senior Underwriter, Marine Liability & Ports, UK & Lloyd’s
6th April 2023
AXA XL has announced that it has appointed Adam Lait as Senior Underwriter, Marine Liability & Ports, UK & Lloyd’s. Lait’s appointment is effective immediately. In the role he will hold responsibility for developing and managing underwriting strategies for renewing and new business within AXA XL’s Marine Liability & Ports book business ... Read the full article