Axa XL

Charles Marmolejo joins the insurer from Marsh as an executive underwriter.

InsiderTech Silicon Valley attendees also told to expect further wave of failures.

The executive resigns from the carrier after joining as global head of M&A in June 2016.

The firm also records $53mn of loss creep on 2017 catastrophes.

Axa has announced the launch of the IPO of its life company Axa Equitable Holdings (AEH) at a price range of between $24 and $27 per share.

US timber giant Weyerhaeuser has filed a complaint at a Seattle court in a bid to force nine insurers to pay out up to $260mn in liability cover.

The London market has placed the first political risk policy through electronic placement system Placing Platform Limited (PPL).

The Axa CEO was already struggling to sell his $15.3bn takeover of XL and the publication of the target's proxy statement will add to his problems.

Axa's pending acquisition of XL Group is subject to a $499mn break fee, according to an 8K filing by the target.

This week Axa announced a $15.3bn agreement to purchase Bermudian (re)insurer XL at close to 2x tangible book value, with the merged entity set to become the largest commercial lines insurer in the world.

Investment returns remained subdued year-on-year for the vast majority of the companies in our analysis, ranging from 1.7 percent to 6.5 percent for the third quarter.

The London directors’ and officers’ (D&O) market is facing a claim of around $26mn following a settlement by Australian law firm Slater and Gordon with its shareholders.