Hints and tips:
...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....
...TC Energy, the Canadian pipeline operator behind the aborted plan to build the controversial Keystone XL crude pipeline, said in July it was spinning off its oil transportation business to concentrate on...
...French general insurer Axa reportedly plans to sell the reinsurance arm of its subsidiary XL to dodge future claims for increasingly unpredictable disasters....
...The new deal allows Covea both to expand its geographical reach, as just over half of PartnerRe’s premiums come from North America, as well as giving it a sizeable reinsurance business: PartnerRe took in...
...If Biden had not vetoed the Keystone XL pipeline from Canada, Alberta’s premier Jason Kenney noted in one of the week’s many “we told you so” moments, it could have been pumping crude to the US later this...
...Despite imposing an aggressive carbon tax regime, the federal government lobbied for the controversial Keystone XL pipeline from Alberta to Texas — which was cancelled by US President Joe Biden earlier this...
...TC Energy is best known as developer of the now-cancelled Keystone XL crude oil pipeline, a target of environmentalists. The business opportunity is potentially immense....
...One thing to start: Blackstone has agreed to acquire rental property buyer and operator Home Partners of America for $6bn, a signal of confidence in the US housing market from the world’s largest real estate...
...Take electric vehicle start-up XL Fleet as an example. Shares in the company shot up almost 70 per cent to a peak of $35 after it went public via a Spac in December....
...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....
...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....
...The specialist insurance and reinsurance industry has been consolidating during the past few years. In 2018 Axa spent $15bn buying XL Group, which operated in some of the same markets as Partner Re....
...Greg Hendrick, chief executive of Axa XL — a part of the French multinational, says: “It will remain a vital market for low frequency, high severity insurance and reinsurance . . . it is a core part of our...
...He has already bought a company in Australia and completed a reinsurance deal with Symetra, a US-based financial services company, which was announced in 2018....
...Last year AIG bought Validus, Axa bought XL and Aspen was taken over by private equity group Apollo after a long sale process....
...The Fed has gone beyond “America First” to stabilise the financial system, writes Gillian Tett. (FT) Are we headed for a credit crisis?...
...AIG’s $5.6bn purchase of Validus a year ago, which controlled ILS manager AlphaCat, was followed last March by Axa’s $15bn acquisition of XL Group....
...Keystone XL would have a capacity of 830,000 b/d, but will have to overcome legal challenges in federal courts and in Nebraska....
...Earlier this year AIG bought Validus and Axa bought XL — in both cases the target company owned an ILS fund manager....
...Poor underwriting aside, insurance and reinsurance has been difficult enough in the post-crisis era of ultra-low interest rates....
...Alex Humphreys, a partner at Apollo, said: “We look forward to working with Aspen to build on the existing high quality specialty insurance and reinsurance business and we aim to leverage Apollo’s resources...
...A breakdown put pre-tax loss estimates from events in Asia at a range between $900m to $1bn, while those in North America were estimated to range between $600m to $700m “We are pleased that our efforts...
...The recent conclusion of S&P Global Ratings was that the global reinsurance industry will barely cover its cost of capital this year: In 2017, the reinsurance sector generated returns on capital of only...
...Almost a third of XL's $15bn premium income last year came from reinsurance.A series of natural catastrophes in 2017, including hurricanes in Florida and Texas, cost XL $2bn in 2017 and pushed the group...
...Axa also says that there are €200m of cost savings, €100m of potential cross-selling benefits and another €100m of savings on reinsurance buying....
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