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 […]

XL Group Shareholders Give AXA Acquisition Green Light

Article 0 Comments Insurer XL Group’s shareholders have approved an agreement for AXA to acquire 100 percent of XL Group. Total consideration for the planned acquisition would amount to approximately USD $15.3 billion, to be fully paid in cash. Under the terms of the transaction, XL Group shareholders will receive […]

XL Shares Executive Changes, Exits in Preparation for AXA Takeover

Article 0 Comments XL Group has announced management changes and departures in anticipation of the planned acquisition of XL by AXA. French insurer AXA SA has agreed to buy XL Group Ltd. for $15.3 billion in cash in a bid to capture a bigger slice of the U.S. property/casualty market. […]

AXA Says Funding to Buy XL Group Is All Set

Article 0 Comments AXA said on Monday it had secured financing for the 12.4 billion euros ($14.9 billion) acquisition of XL Group and was not dependent on the issuance of any additional debt following the flotation of part of its U.S. unit, AXA Equitable. The French insurer said overall proceeds […]

AXA Wasn’t the Only Party Interested in Acquiring XL

Article 0 Comments According to details revealed in a public filing earlier this week, two parties approached XL Group for potential tie-ups before AXA started to pursue a deal—and seven, in total, were interested before AXA and XL agreed to a $15.3 billion deal in early March. AXA eventually topped […]

AXA Prices IPO of U.S. Division to Help with XL Takeover

Article 0 Comments French insurer AXA on Thursday priced the forthcoming initial public offering (IPO) of its U.S. division at $24-27 per share, in a deal that could value the part of the business being listed on the market at $3.5 billion. AXA said in a regulatory filing that it […]

S&P Places AXA on CreditWatch Negative over Its Plans to Buy XL Group for $15.3B

Article 0 Comments S&P Global Ratings placed France’s AXA on CreditWatch with negative implications over its planned $15.3 billion purchase of XL Group Ltd. The ratings agency said it is worried about what the mega-deal could do to AXA’s capital reserves. At issue are AXA’s “AA-” long-term issuer credit and […]

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 […]