AXA Reports 66% Drop in 2018 Net Profit on U.S. Unit’s IPO Costs, Natural Disasters

Article 0 Comments Net profits at AXA, Europe’s second biggest insurer, fell sharply as a result of charges related to its U.S. unit’s initial public offering (IPO) and a spate of natural disasters, although AXA hoped for higher earnings this year. Its 2018 net profit fell 66 percent from a […]

AXA to Buy Remaining 50% Stake in AXA Tianping for China Growth

Article 0 Comments AXA announced it has entered into an agreement with the current domestic shareholders of AXA Tianping Property & Casualty Insurance Co. Ltd. to acquire the remaining 50 percent stake of the company. Total consideration for the acquisition of the 50 percent stake would amount to 4.6 billion […]

AXA Expects Profits to Be Boosted by Its $15 Billion XL Deal

Article 0 Comments AXA, Europe’s second-biggest insurer, expects its profitability to improve in the next two years thanks to U.S. business brought in by its new XL arm, and said it would now focus on expanding in Asia. The French insurer said profits should be boosted by its $15 billion […]

AXA to Complete Acquisition of XL Group Tomorrow

Article 0 Comments Axa announced today that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group Ltd. previously announced on March 5, 2018. The Paris-based global insurer said it expects to close on the acquisition of XL Group on Sept. 12. On June 6 […]

New York Approves AXA Acquisition of XL Group

Article 0 Comments France’s AXA Group moved a step closer to closing on its acquisition of XL Group as Nw York insurance regulators have given their approval of the deal. New York’s Department of Financial Services (DFS) on Friday announced it had approved an application by AXA Group, including AXA […]

AXA Gives Under-Fire CEO Buberl a Needed Boost on Strong H1 Profits

Article 0 Comments AXA SA gave under-fire Chief Executive Officer Thomas Buberl a needed boost with first-half earnings that beat estimates and growth in new business. AXA, posting its first results since a disappointing partial spinoff of the French insurer’s U.S. unit, reported strong profitability across the firm and said […]

AXA, XL Choose Name for Combined P/C, Specialty Operations: ‘AXA XL’

Article 0 Comments Following the completion of the acquisition of XL Group by AXA SA – expected in the second half of 2018 – the two insurers have chosen the name of the division that will be dedicated to large property/casualty commercial lines and specialty risks. Called AXA XL, the […]

ING, AXA Form Digital Bancassurance Partnership, Offering Cover in 6 Countries

Article 0 Comments ING and AXA announced a long term and exclusive, multi-country bancassurance partnership to provide insurance products and related services through a central digital insurance platform. Under the partnership, ING will provide its leading digital banking experience and AXA its expertise in innovative modular insurance products and services, […]

How AXA Wooed and Won XL Group in $15.3B Takeover Deal

Article 1 Comments AXA SA’s pursuit of its biggest ever takeover really got serious at a romantic hotel on the shores of Lake Zurich. That’s where top executives of the French behemoth and XL Group Ltd., fresh from the annual gathering of the world’s elite at the ski resort of […]

XL Group CEO McGavick Comments on Firm’s Agreed Purchase by France’s AXA

Article 0 Comments XL Group’s CEO Mike McGavick has issued the following statement to clients and brokers in response to today’s announcement that XL has entered into an agreement to be acquired by French insurer AXA. Dear Valued Partners, We wanted to let you know about some important news: XL […]