2 August 2018Insurance

AXA reduces XL cat exposure by 40%

French insurer AXA and XL Group have reduced potential catastrophe impacts by around 40 percent relative to 2017 ahead of the merger of the two entities, according to AXA’s first half 2018 earnings presentation.

AXA is in the process of acquiring XL Group for $15.3 billion (€12.4 billion) in cash.

In order to reduce potential negative earnings impacts from natural events, the companies have taken underwriting actions and purchased incremental reinsurance protection at XL.

The firms bought tailor-made aggregate protection for both AXA and XL. As a result, the nat cat exposure across 1/10y to 1/50y return periods is “relatively stable,” according to the presentation.

AXA expects to close the XL acquisition in the second half of 2018.

Get all the latest re/insurance industry news with our daily newsletter - sign up here.

More of today's news

AXA reduces XL cat exposure by 40%

AIG appoints Arch insurance chairman as Lexington CEO

Aspen swings to loss in Q2

Allstate earnings jump 16% in Q2

California commissioner calls for CVS, Aetna merger to be blocked

Former insurance agents sentenced to combined 10yrs in prison in California

Don't miss our insurtech email newsletter - sign up today

Already registered?

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

Alternative Risk Transfer

AXA XL sets sight on ILS growth

28 November 2018 AXA XL, the property/casualty (P&C) and specialty risk division of the AXA group, is looking to grow the use of ILS to de-risk its portfolio in a strategy that should ultimately be expanded to include the whole group, Greg Hendrick, CEO of AXA XL, suggested during a Nov. 28 press conference.

Insurance

AXA XL to reduce cat exposure, lifts synergies

28 November 2018 AXA XL, the property/casualty (P&C) and specialty risk division of the AXA group, is targeting higher synergies than previously announced from the combination of the XL Group and AXA businesses while also planning to further reduce the natural catastrophe (nat cat) exposure.

Insurance

AXA net income drops 11% in H1 2018

2 August 2018 French insurer AXA has reported a decline in net earnings in the first half of 2018 due to the impairment of intangible assets linked to the transformation of its Swiss Group Life business, the negative impact from the change in the fair value of financial assets and derivatives, as well as exceptional charges linked to the IPO of AXA Equitable Holdings.

Sustainable growth a priority for re/insurers as markets in Asia transform: SRA leaders

‘Secondary’ no more: unmodelled perils a major concern in Asia: Mapfre Re

Asia-Pacific: a diverse region with diverse challenges

Enhancing re/insurance through the vital role of data

Partner, not provider, key to credit and surety success: Koh

Insurance industry can do better on climate risk—QBE SG CEO

ESG, cyber risks and AI big topics in Asia: Beazley spotlights key insights

Asia needs ‘challenger brokers’ to disrupt status quo: Price Forbes

AXA reduces XL cat exposure by 40%

More on this story

Editor's picks

Editor's picks

More articles