Axa XL names Zurich’s Jadav UK and Lloyd’s retail P&C CUOAxa XL has appointed Zurich’s Anish Jadav as chief underwriting officer for retail property and casualty, UK and Lloyd’s.
Axa XL tops Q1 cat budget despite recent measures to reduce volatilityAxa XL’s quarterly natural catastrophe bill once again came in above budget during the first quarter despite measures implemented during 2020 to reduce volatility of earnings.
Axa XL grows revenues 4% in Q1 as rates move up 11%Axa XL remains on course for its €1.2bn ($1.4bn) underlying earnings target in 2021, despite a “slightly higher than usual natural catastrophe charge” during Q1, driven by winter storm activity in Texas.
Enstar completes $1.395bn ADC with Axa XLRun-off giant Enstar has completed an adverse development cover (ADC) for Axa XL, providing two layers of cover for a $1.395bn portfolio.
Axa makes two leadership appointments to UK retail unitAxa UK has appointed Marco Distefano as managing director for motor and home and Anna Fleming as chief operating officer for its retail insurance unit.
Axa pledges €2bn to state-backed SME loan schemeAxa is to provide €2bn ($2.4bn) to a French government scheme designed to provide as much as €14bn to strengthen the finances of small and medium-sized companies.
Axa XL partners with SpaceAble to support satellite operatorsAxa XL has partnered with SpaceAble, a start-up specialising in space situational awareness, to better support satellite operators and organisations operating in space.
Chaucer strikes RITC with Axa African specialty SPAChaucer Syndicate 1084 has accepted the reinsurance to close (RITC) of the liabilities of its former joint venture with Axa – Special Purpose Arrangement (SPA) 6130 – for the 2018 year of account.
Axa XL names Khera as UK & Lloyd’s head of marineAxa XL has appointed Sundeep Khera head of marine for the UK and Lloyd’s market, effective 1 July 2021, and global head of hull, effective immediately.
Axa XL reorganises reinsurance operations under new Bermuda platformAxa XL has reorganised its reinsurance operations and formed a new Bermuda-based platform that will serve as the lead reinsurance company in its corporate structure.
Axa XL Syndicate 2003 reports large loss after £523mn net Covid hitAxa XL Syndicate 2003’s combined ratio rose to 133.8 percent for 2020 on the back of an underwriting loss of £444mn ($610mn).
Axa names Generali’s de Courtois as deputy CEO in management overhaulAxa has named former Generali senior executive Frédéric de Courtois as deputy CEO, part of an overhaul of the group’s leadership.
Axa XL promotes Schipf to global fine art and specie CUOAxa XL has promoted Jennifer Schipf to the newly created role of global CUO for its fine art and specie (FAS) unit.
Global property, energy and construction CUO Klepper to leave Axa XLAxa XL’s global property, energy and construction CUO Bob Klepper has resigned from the position, The Insurer can reveal.
Allianz and Axa back fintech Stripe’s $600mn fundraiseAllianz and Axa have emerged as primary investors in digital payments firm Stripe, which has been valued at $95bn after a funding round that makes the company the most valuable private business to come out of Silicon Valley.
Axa names Gosset-Grainville as chairmanAxa has announced that its chairman Denis Duverne will retire at the end of his current mandate in April 2022, and will be succeeded by Antoine Gosset-Grainville.
Jefferies: Axa likely to begin €1bn annual share buybacks in 2022Axa is likely to undertake a €1bn ($1.2bn) share buyback each year from 2022 onwards, according to Jefferies analysts, with the group having reported capital “materially stronger than expected” in its 2020 results.
Aviva to acquire Axa XL UK private client unitAxa XL’s 30-strong UK private client team is set to move to UK insurer Aviva in a deal set to complete later this year, The Insurer can reveal.
Axa XL bolsters UK downstream and power unit with StarStone’s BishopAxa XL has named StartStone’s Matthew Bishop as downstream and power senior underwriter for the UK and Lloyd’s market.
Markets Review: Axa gains 4.7% on FY20 results while bond rout hits global equitiesAxa shares rose over 4.7 percent last week to lead gains in yet another choppy week for European P&C stocks as investors weighed up better than expected corporate earnings against fears over rising inflation and interest rates on the back of a jump in bond yields.