Axa

Former Brit CEO Matthew Wilson will take on a role of special adviser to the Lloyd's Council later this year, Insurance Insider understands.

It was reported last month that Axa was believed to be preparing for a sale of Axa XL Re.

The carrier reported premium growth across its Axa XL insurance and reinsurance business units.

Tara Foley will be responsible for implementing Axa UK & Ireland's 2024-26 strategy, as well as leading the executive team.

Axa’s lack of success in selling its more volatile XL Re segment has led the insurer to cut back on those lines, but the current rate environment makes this a good time to revisit a sale.

It didn’t take long after the Validus-RenRe deal for the next possible reinsurance consolidation target to emerge.

The French carrier is exploring the spin-off of the XL Re operations via a private sale or stock market listing, according to Reuters.

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.