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The carrier is undergoing a strategic review of its business operations under new CEO Amanda Blanc.
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The legacy bidder prevails over Enstar, Premia and start-up Marco.
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Aon’s former head of international catastrophe management will take up the position next September.
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Total insured losses are well up on 2019, but the severity of individual blazes is not likely to impact reinsurers extensively.
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The German carrier and the Apollo-backed life insurer team up for a bid which could be worth an estimated $2.3bn-$3.5bn.
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The carrier had topped up its cover earlier this month after Laura triggered recoveries.
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Collateralised capacity will retain an important role in the retro niche.
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The carrier's Ada Re vehicle will join its Turing Re sidecar, but its capacity is not known.
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Sources said the legacy arm of Axa had lost some investor support for the second of its funds used to back legacy acquisitions.
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The original cedant is a French P&C, motor and D&O specialist.
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The private equity house holds a majority stake in the business and invested five years ago.
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Smaller reinsurers and Lloyd's carriers will be more impacted than global top-tier firms, the broker forecast.