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...Europe’s second-biggest insurer, which cemented its focus on property and casualty insurance with the $15.3bn acquisition of XL in 2018, said it would prioritise dividend growth and annual share buybacks...
...Foreshadowing that danger, Axa reportedly wants to sell the reinsurance arm of its subsidiary XL. Axa is a large, stolid French commercial and retail insurer....
...Most of it is expected to flow through to the ship’s reinsurers, a large group including Axa XL, a division of the French insurer. Axa said any impact would be “non-material” at group level....
...French general insurer Axa reportedly plans to sell the reinsurance arm of its subsidiary XL to dodge future claims for increasingly unpredictable disasters....
...According to Axa XL, of the 4,400 operational LEO satellites in 2021, just 47 were covered....
...The insurer said its Axa XL unit, a commercial insurance specialist and reinsurer, had shown resilience despite claims linked to Russia’s invasion of Ukraine....
...But that integration has not been without its problems, with the head of Axa XL being replaced in 2020 at the same time that it downgraded an earnings target for the unit....
...Insurers and reinsurers Swiss Re, Hannover Re, Scor, Axa XL, Mapfre, Italy’s Generali and Fidelis have all introduced restrictions on reinsuring oil, and in some cases gas, since June last year....
...Mr Catlin launched Convex two years ago, setting out to repeat his earlier success with the eponymous Catlin, which he founded and sold to XL Group for $4.1bn in 2015, and to take on rivals such as Axa,...
...The company estimates its Axa XL division will pay out €400m, before tax and after reinsurance recoveries, as a result of Hurricane Ida, which hit Louisiana at the end of August and also caused destruction...
...Representatives from Christie’s, Hauser & Wirth gallery, the shipping company Convelio and insurers AXA XL were grilled on their activities and priorities by the art writer and broadcaster Louisa Buck, a...
...“We like it because of the diversification,” said Dan Riordan, chief underwriter for political risk at AXA XL....
...Axa’s results were bolstered by a strong underwriting performance at its Axa XL division, which benefited from an upswing in commercial insurance prices....
...Axa XL, a division of the French insurance group, will pay more than €50m under the settlement, according to the report....
...The centrepiece of that plan was the $15bn acquisition of Bermuda-based XL, and the demerger of its US life insurance business, Axa Equitable....
...Thomas Buberl, Axa’s chief executive, said on Thursday that after two years of integration it was time for new leadership at Axa XL....
...Axa’s down to “sell” at Citigroup: AXA is a strongly consensual sell-side buy, with advocates focused on the IFRS P/E discount relative to certain peers and arguing that a re-rating should follow as XL...
...The new syndicate will be backed by $25m of capital and has been developed by Parsyl in partnership with insurers Ascot and Axa XL, along with broker McGill and Partners....
...It was why Mr Catlin set up Convex, and French insurer Axa paid $15bn for rival XL in 2018 in a deal that drew heavy criticism at the time....
...Axa has replaced the head of Axa XL, the business created in 2018 after the French group bought Bermuda-based XL....
...Mr Buberl insists XL has been integrated, saying he has spent most of his time on the culture. “Axa and XL are very different animals,” he said....
...French insurer Axa bought XL Group for $15bn in 2018, in part to give itself a bigger position in the reinsurance market. Goldman Sachs advised Exor while Sullivan & Cromwell provided legal advice....
...In 2018 Axa spent $15bn buying XL Group, which operated in some of the same markets as Partner Re. Axa’s shareholders initially had some reservations about the deal....
...Under Mr Buberl, Axa acquired the Bermuda-listed insurer XL in March last year, and then listed Axa Equitable, the group’s US life insurance company, shifting the company’s portfolio from market-dependant...
...The software is already used by more than 25 companies, including Maersk and Axa XL....
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