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With forward Ebitda numbers of £50mn-£60mn, the MGA could secure a valuation of potentially nearing £1bn.
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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.
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With around 50 members of staff across the business, the divestiture is not expected to significantly alter the competitive landscape.
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Most of the loss comes from BI, with the remainder split between physical damage and extra expenses.
Opinion
Focus
Focus
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
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Analysis of the numbers by Insurance Insider showed a slight loosening of the Corporation’s restrictions on growth between 2019 and 2020.
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Sources said pandemic rate inflation and increases in exposure could lead to rates tapering off after years of increases.
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This publication’s analysis of 2020 results ranks the performance of syndicates by combined ratio.
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From Inside P&C
Axa XL leads cyber program on risk for CNA ransomware claim
Underwriters expect a loss from the event to fall on the carrier’s cyber insurance program.
From Trading Risk
Cat bonds rates drop 2.4% in Q1 as hard market softens: Lane
The ILS analysts noted a trend for cat bonds to be impacted by a higher number of small loss events.
From Inside P&C
‘Nuclear’ jury verdicts continued despite pandemic in 2020: Chubb
The carrier says jury awards are rising while the size of insurance limits purchased is declining.
From Insider Engage
How to develop a financial vaccine against future pandemics
Insurers had had better make sure Congress is aiming at the right target, before the insurance industry takes its one shot at a federal pandemic risk program
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