Axa XL
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April McLaughlin will manage and expand its multi-line reinsurance offering within the region.
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The potential disposal coincides with sale processes in locations including Singapore, Belgium and Central and Eastern Europe.
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Liability losses on the Willis Re-brokered policy will take the claims tally above the expected total $50mn hull loss. -
Ahead of the Dive In festival, the Axa XL UK and Lloyd’s CEO said better data collection for D&I was imperative to achieve progress.
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Investors react after the carriers’ group earnings almost halve year on year.
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Reinsurance, crisis management and art and specie are areas of opportunity, according to the Axa XL chief.
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Axa estimated its total 2020 impact from Covid-19 for the group at EUR1.5bn, which it booked in the first half.
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Three senior executives take on new roles after the appointment of Sean McGovern as permanent chief of the regional unit.
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McGovern was named as permanent CEO for UK and Lloyd’s at Axa XL earlier this week.
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The former Lloyd’s exec takes the helm as the carrier pivots towards a new structure with more regional autonomy.
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The pull back of a key lead market comes at a time of significant hardening in the D&O space.
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The licence makes it the first Shanghai-based reinsurance subsidiary and the first foreign-owned reinsurance subsidiary in China.
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