Axa
-
The carrier has announced several changes to its management committee before revealing its new strategic plan early next year.
-
After founder members Axa and Allianz dealt a potentially terminal blow to the Net-Zero Insurance Alliance by withdrawing, the NZIA is exploring limited options to continue.
-
Sompo is the eighth major insurer to leave the NZIA, casting even further doubt on its future as remaining members explore options around whether to continue.
-
Both Axa and Allianz said their own targets on sustainability and reducing emissions remain unchanged.
-
Analysts find carriers have few investments in bank debt after Credit Suisse rescue.
-
The French carrier is exposed to the troubled bank via various bonds.
-
The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector.
-
Axa owned 100 million shares, equating to about 8% of the bank’s share capital.
-
The board of directors has chosen not to replace Jean-Pierre Clamadieu, decreasing the board numbers from 17 to 16 members.
-
-
The reinsurers will provide a parametric solution to ensure a fast payout.
-
Axa plans to acquire the Spanish insurer for a cash consideration of EUR31mn.