Reinsurance News
AXA
AXA exposure to SVB banking crisis seen as minimal: Berenberg
16th March 2023
Berenberg has reported that AXA should face relatively low exposure to the collapse of Silicon Valley Bank (SVB) and the shockwaves this crisis has sent through the banking sector. Analysts note that AXA has €66 million invested in senior bonds of Silicon Valley Bank and €300m in US regional banks, and ... Read the full article
AXA XL partners with contract intelligence platform Document Crunch
7th March 2023
AXA XL has partnered with Document Crunch to offer a Contract Review Benchmarking service for construction insurance clients in North America. According to AXA XL, this new service uses industry data on key contract terms to provide its construction insurance clients with best practices and benchmarking comparisons, supporting their risk management ... Read the full article
AXA’s reinsurance retentions rise as property quota shares grow at renewals
24th February 2023
French insurer AXA has reported a number of changes to its natural catastrophe reinsurance programme for 2023 when compared with last year, including higher retentions and a new quota share arrangement for the London Market as AXA XL Re targets further reductions in the catastrophe space. After lowering the retention in ... Read the full article
AXA grows earnings by 4% despite move away from nat cat
23rd February 2023
Global insurer AXA has reported a 4% increase in underlying earnings for 2022, which finished the year at €7.3 billion and were boosted by growth in the company’s Property and Casualty (P&C) segment despite significant reductions in natural catastrophe exposure for AXA XL Reinsurance. The firm said earnings reflected higher investment ... Read the full article
AXA renews mandate of research fund for 5 years
13th January 2023
AXA has announced that it has renewed the mandate of the AXA Research Fund for a further five years, appointing Professor Debra Roberts President of the Scientific Board of the AXA Research Fund. Since its launch in 2007, the AXA Research Fund, one of the largest scientific philanthropy initiatives in the ... Read the full article
Once again, UnitedHealth is the world’s largest insurer ranked by NPW
11th January 2023
Over 12% growth in net premiums written (NPW) in 2021 ensured that UnitedHealth Group Incorporated remains the world's largest insurance company when ranked by NPW, while global insurer Allianz sits atop the table when ranked by non-banking assets. Our directory of the World’s Largest Insurance Companies, which is ... Read the full article
Bernardo Serrano Lopez becomes new CEO of AXA Philippines
20th December 2022
Global insurer AXA has appointed Bernardo Serrano Lopez as new President and Chief Executive Officer of its Philippines business. Serrano Lopez joins AXA Philippines after a nine-year tenure at AXA Colpatria. Based in Colombia he most recently served as CEO of the company, which he built to become the third largest ... Read the full article
Allianz maintains position as largest European non-life insurer
14th December 2022
New data from AM Best shows that Germany’s Allianz continues to hold on to its position as the largest European non-life insurer, based on gross premiums written for 2021. Allianz topped the rating agency’s table of the 30 largest insurers, boasting GWP of €60,273 million, up 4.3% from €57,772 million in ... Read the full article
SCR ratio reduction unlikely to have significant impact: GlobalData
9th November 2022
Solvency capital requirements for UK insurers may be relaxed in the near future following the September 2022 mini budget, but according to GlobalData, findings have shown that leading UK insurers are not coming close to the existing limits. GlobalData stated that as part of the mini-budget, the current Solvency Capital Requirement ... Read the full article
AXA XL Re nat cat reduction continues to offset revenue growth
3rd November 2022
Global insurer AXA has reported that its gross revenues increased by 2% to €78.4 billion over the first nine months of 2022, as strong growth across the company’s commercial and personal lines business was offset by a reduction in natural catastrophe exposure for AXA XL Reinsurance. Overall property and casualty (P&C) ... Read the full article
AXA partners with taxi firms on Internet of Vehicles project
27th October 2022
AXA Hong Kong and Macau have announced a partnership with Chung Shing Taxi and TaxiSafely to launch Hong Kong’s very first Internet of Vehicles (IoV) project collaborated by insurer and taxi company. The collaboration aims to enhance taxi driving safety, and protect taxi drivers, passengers and other road users, through the ... Read the full article
Climate change becomes the number one risk around the world: AXA
26th October 2022
Climate change is becoming the number one concern around the world, according to AXA's Future Risks Report 2022, with geopolitical risks coming in second place. The report also found that the feeling of vulnerability to certain risks has been increasing and confidence has waned. Based on responses from a panel of 4,500 ... Read the full article
AXA eyes growth in Spain with acquisition of GACM España
18th October 2022
AXA Spain, a division of the global insurance group, has entered into exclusive negotiations with Groupe des Assurances du Crédit Mutuel for the potential takeover of Groupe Assurances du Crédit Mutuel España (GACM España), its predominantly P&C and health insurance subsidiary in Spain. AXA is looking to acquire GACM España for a ... Read the full article
AXA XL promotes Gazzard to E&O Product Line Leader, Professional Lines
11th October 2022
AXA XL has promoted Mike Gazzard to the role of Senior Vice President and E&O Product Line Leader of its Bermuda Insurance Professional Lines Team. Within this role he will report to Matthew Irvine, AXA XL’s Bermuda Professional Lines Chief Underwriting Officer. Gazzard, who has been with AXA XL since 2019, previously ... Read the full article
AXA XL Re unveils seven new global product leaders
7th October 2022
AXA XL Re, the reinsurance arm of AXA's property & casualty and specialty risk division, has today announced the appointment of a range of new global product leaders. This includes a new role for Tristan Abend, formerly Head of International Property Treaty, who will now lead International Property at the reinsurer. Greg ... Read the full article