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....
...French general insurer Axa reportedly plans to sell the reinsurance arm of its subsidiary XL to dodge future claims for increasingly unpredictable disasters....
...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....
...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...
...“When I order an Uber XL, my husband laughs and asks me who I think I am – a Rockefeller?!”...
...Earlier this year AIG bought Validus and Axa bought XL — in both cases the target company owned an ILS fund manager....
...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...
...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....
...When Bermuda-based insurers Validus and XL were bought earlier this year, there was plenty of speculation over who would be next....
...XL already knows Dublin well. It has had a presence in the city since 1990 and still runs its European reinsurance business from there....
...Large scale M&A in insurance has taken a breather since the merger mania of 2015, when Ace struck a deal with Chubb, XL bought Catlin and brokers Willis and Towers Watson came together....
...AP Moller-Maersk, the Danish conglomerate that includes the world’s largest container shipping business, and the insurers MS Amlin and XL Catlin are among the companies involved in a new blockchain platform...
...How does an insurance company investor know whether or not the company has incorporated robust and up-to-date climate science to make sure their pricing and capitalising correctly from one year to the next...
...XL has agreed to buy smaller UK-listed rival Catlin for £2.8bn and RenaissanceRe struck a deal in November to purchase Bermuda-based rival Platinum Underwriters for $2bn....
...An approach would further complicate plans for an $11bn merger between Axis and PartnerRe, another reinsurance company....
...To see why, just look at the fight for reinsurance company PartnerRe. In January, PartnerRe announced an all-share merger with Bermuda-incorporated rival Axis Capital....
...Eric Farnsworth is vice president of the Council of the Americas and Americas Society, heading the Washington, DC, office since 2003 Back to beyondbrics...
...Recent tie-ups include XL and Catlin Group; RenaissanceRe and Platinum Underwriters; and Partner Re and Axis Capital. There are worse places to conduct due diligence than Bermuda....
...Although the pressures on underwriters are greatest in the commoditised reinsurance business — reinsurance will account for about a third of the combined XL/Catlin’s annual $10bn premium income — other parts...
...Low-interest rates and tumbling premiums in important areas are putting the sector — especially reinsurance — under pressure....
...He adds XL’s move on Catlin shows M&A is “coming back” to the specialist insurance and reinsurance sector....
...A transaction would be the latest sign that mergers and acquisitions activity in the specialist insurance and reinsurance sector is heating up....
...New York-listed XL is continuing talks with Catlin over the terms of its planned acquisition of the FTSE 250 company, which would be the largest ever purchase of a Lloyd’s insurer....
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