Axa
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Combined ratios have improved as prices rise and investments return to profit.
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Alexander Baker was a senior PV, war and terrorism underwriter at Axa XL.
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All three carriers also announced increased dividends.
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In one deal, JC Flowers-backed broker Oneglobal and Insuterch Floodbase announced a partnership to develop parametric flood insurance across Asia.
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The segment benefited from strong demand and disciplined pricing.
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Climate change is still the number one area of concern, a study found.
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The top five insurers on the continent maintained their ‘clear dominance’ in terms of scale.
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He joins from Global Parametrics, where he was head of partnerships and business development.
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Former Brit CEO Matthew Wilson will take on a role of special adviser to the Lloyd's Council later this year, Insurance Insider understands.
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It was reported last month that Axa was believed to be preparing for a sale of Axa XL Re.
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The carrier reported premium growth across its Axa XL insurance and reinsurance business units.
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Tara Foley will be responsible for implementing Axa UK & Ireland's 2024-26 strategy, as well as leading the executive team.
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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.
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It didn’t take long after the Validus-RenRe deal for the next possible reinsurance consolidation target to emerge.
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The French carrier is exploring the spin-off of the XL Re operations via a private sale or stock market listing, according to Reuters.
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The carrier has announced several changes to its management committee before revealing its new strategic plan early next year.
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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.
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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.
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Both Axa and Allianz said their own targets on sustainability and reducing emissions remain unchanged.
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Analysts find carriers have few investments in bank debt after Credit Suisse rescue.
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The French carrier is exposed to the troubled bank via various bonds.
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The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector.
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Axa owned 100 million shares, equating to about 8% of the bank’s share capital.
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The board of directors has chosen not to replace Jean-Pierre Clamadieu, decreasing the board numbers from 17 to 16 members.
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The reinsurers will provide a parametric solution to ensure a fast payout.
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Axa plans to acquire the Spanish insurer for a cash consideration of EUR31mn.
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Philip Bradley will step down from his role on 31 December, with Marguerite Brosnan assuming her new position on 1 January 2023.
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Helena Kazi is set to launch an InsurTech MGA later this year that will provide “hyper-personalised” insurance to the gig economy.
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Axa also announced the launch of a group EUR1bn share buy-back scheme.
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The incoming chairman has spent almost a quarter of a century as a director on top companies’ boards.
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Axa SA will become the group’s internal reinsurer following a merger with Axa Global Re.
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A Q1 results update shows total revenues at Axa XL increased 4% to EUR6.2bn ($6.5bn) as top-line growth was offset by drop in revenue at Axa XL Re.
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Shareholders also approved the appointment of new chairman Antoine Gosset-Grainville.
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The carrier said the new pay deal reflected “very good financial performance” and the “successful transformation of the group” under CEO Thomas Buberl.
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