Zurich’s Cowbell buy-in may spur Axa and Generali to seek cyber MGA partnerships: CitiZurich’s investment into cyber MGA Cowbell may spur European multiline rivals Axa and Generali to seek similar investments or partnerships as the available pool of cyber MGA relationships shrinks, Citi analyst James Shuck has said.
Axa Commercial names Allianz’s Aulakh as pricing directorAxa Commercial has named Gurinder Aulakh as pricing director within its underwriting, pricing and portfolio management team, succeeding Jo Scott who is set to retire on 31 July.
Digital MGA Aurora secures Axa capacity for commercial combined launchDigital commercial insurance MGA Aurora has launched its flagship commercial combined offering with limits of up to £12.5mn ($16mn) backed by Axa capacity.
Axa pledges to reach €6bn in cumulative GWP for transition insurance by 2026Axa has set a new objective for its P&C insurance operations to reach €6bn ($6.5bn) in cumulative gross written premium for transition insurance products between 2024 and 2026.
Axa Climate looks to enter forestry insurance marketAxa Climate is exploring the development of forestry insurance solutions, including the modelling of biotic and abiotic risks, and pricing strategies for forest fire insurance.
Scor and Axa lead European P&C losses as stocks slide on Macron’s snap electionShares in (re)insurance giants Scor and Axa topped the losses as French and European markets fell on Monday in the wake of President Emmanuel Macron’s shock decision to call snap parliamentary elections.
Axa closes €750mn debt placement to drive growthAxa has announced the placement of €750mn ($809mn) of dated subordinated notes, which the carrier said would be used for general corporate purposes.
Axa partners with UPU to develop postal insurance opportunityAxa has partnered with the Universal Postal Union in a new scheme aimed at enabling inclusive postal insurance products and operating models to help reach those currently underserved by insurance.
Collapse of back-book deal raises Axa’s financial market riskThe recent collapse of Axa’s plans to offload a €16bn portfolio of German run-off life insurance policies has increased the Paris-headquartered (re)insurer’s exposure to financial market risk, according to Jefferies analysts.
Aurora partners with Axa on management liability launchDigital commercial insurance platform Aurora has launched a management liability policy offering in partnership with Axa.
Axa scraps plans to sell €16bn German life bookAxa has pulled plans to sell its German portfolio of run-off life insurance policies to Athora Holding, with the French insurer citing a significant change in market conditions.
Axa XL Re grows 9% in Q1 as favourable P&C pricing continuesAxa XL Reinsurance grew premiums by 9 percent to €1.3bn during the first quarter of 2024, driven in part by favourable pricing impacts in property and casualty business.
UK court finds ~$10bn Russia-Ukraine aviation disputes must be heard in LondonA UK high court has found that more than more than $10bn of legal claims brought by aircraft leasing companies against international (re)insurers must be heard in London rather than Moscow in a major win for lessors.
Axa Climate and Reask partner on parametric windstorm insuranceAxa Climate has penned a strategic partnership with risk data start-up Reask to develop advanced parametric windstorm insurance solutions.
Axa targets 4-6% YoY P&C underlying earnings growth through 2024-2026Axa’s strategic plan is targeting P&C growth of four to six percent year on year alongside a reduction of two percentage points in its combined ratio, according to group CFO Alban de Mailly Nesle.
Analysts bullish on Axa’s “seismic” shift in payout policyEquity analysts have unanimously welcomed Axa’s “seismic” change in capital management policy under CEO Thomas Buberl, who pledged to return €6bn to investors following the European insurance giant’s consensus-beating full-year earnings.
Axa increases limits across all major perils in revised group nat cat programAxa increased limits across all major perils in its group nat cat reinsurance program for 2024 with its retentions unchanged year on year.
Axa’s Powell: Unlocking the circular economy through insurance productsAxa's group sustainability director Martin Powell has called on the insurance sector to help unlock the potential of the circular economy to help reduce greenhouse gas emissions, as well as incentivising adaptation efforts and renewable energy uptake.
Axa unveils €1.6bn share buyback and increases growth targetsAxa this morning unveiled a €1.6bn share buyback programme as it set out ambitious new growth targets in its latest three-year strategic plan.
Shareholder returns in focus as Axa, Allianz and Zurich prepare to report Q4 earningsLater this week it will be the turn of the major European composite insurers to publish Q4 earnings, with Axa and Zurich due to report on Thursday and Allianz to follow on Friday.