Axa
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Plus, the latest people moves and all the top news of the week. -
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The change forms part of a broader leadership reorganisation.
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Equidad earlier sold its soccer team to group of US investors that includes actor Ryan Reynolds.
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Plus, the latest people moves and all the top news of the week.
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The transaction is expected to have a price-to-earnings multiple of 11x.
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The new unit – Ceded Re – will operate under the leadership of Guy Van Hecke.
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Plus, the latest people moves and all the top news of the week.
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The carrier reported a below-budget cat experience, despite the California wildfires.
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The board of directors was unanimous in its decision.
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The carrier’s CoR improved across P&C, including at commercial lines-focused Axa XL.
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The new European A&H business will be led by Samia Baliad, who joins the company from Axa.
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In 2019, Shali Vasudeva left her COO role at Hiscox to join Axa UK & Ireland as COO.
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This puts the total cumulative cash proceeds received at $319mn.
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The carrier estimated its net Helene and Milton losses at under EUR200mn.
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The settlement was announced by DAE’s lawyer Alistair Schaff on day one of the aviation ‘mega trial’.
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Guy Van Hecke has spent the last 26 years working at Axa, starting at Axa Corporate Solutions.
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Group deputy CEO Frédéric de Courtois said the issue of inflation is “mostly behind us".
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A roundup of all the news you need today, including Enstar EU’s new CEO.
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Arch, Axa XL, Beazley, Chubb, Hiscox, Howden, MS Amlin and TMK are participating.
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Axa XL’s product recall team was depleted after two senior underwriters resigned in January.
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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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The carrier said it will examine the impact of the ruling on other claims under non-damage denial-of-access wordings.
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Axa has stopped writing new insurance cover and renewals for Russian-owned assets located in Russia in response to the country’s ongoing invasion of Ukraine.
