With forward Ebitda numbers of £50mn-£60mn, the MGA could secure a valuation of potentially nearing £1bn.
Chubb offered to pay up to $70 per share for the business after its $65 offer was publicly rejected.
Insureds surveyed express concern about inadequate limits on cyber policies.
With around 50 members of staff across the business, the divestiture is not expected to significantly alter the competitive landscape.
Most of the loss comes from BI, with the remainder split between physical damage and extra expenses.
15 April 2021
After years of poor performance and talent flight, Insurance Insider examines the challenges faced by Axa XL and the strengths it holds to forge a new start.
Analysis of the numbers by Insurance Insider showed a slight loosening of the Corporation’s restrictions on growth between 2019 and 2020.
Sources said pandemic rate inflation and increases in exposure could lead to rates tapering off after years of increases.
This publication’s analysis of 2020 results ranks the performance of syndicates by combined ratio.
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