France’s AXA Group announced that it has completed the sale of its subsidiary AXA RE’s business to Paris Re Holdings. The transaction closed on December 21, 2006.
AXA first revealed plans for the restructuring in April, when it received a binding offer for the reinsurance business from Paris Re Holdings Limited, a newly-created company sponsored by a consortium of international investors led by Trident III, L.P., a fund managed by Stone Point Capital LLC (See IJ web site April 6,10).
At the time AXA indicated that the deal was valued at around €120 million ($145 million). AXA retains a 3.4 percent stake in Paris Re.
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
