Articles by Fabio Benedetti-Valentini

Luxembourg Aims to Attract More Insurers Seeking Post-Brexit Headquarters

Luxembourg is seeking to persuade at least two additional global insurers to make their post-Brexit home there after attracting American International Group Inc. and Sompo International Holdings Ltd., the head of its financial lobbying group said. “Contingency planning has started, …

How AXA Wooed and Won XL Group in $15.3B Takeover Deal

AXA SA’s pursuit of its biggest ever takeover really got serious at a romantic hotel on the shores of Lake Zurich. That’s where top executives of the French behemoth and XL Group Ltd., fresh from the annual gathering of the …

France’s AXA to Acquire P/C Insurer XL Group for $15.3 Billion

AXA SA agreed to buy XL Group Ltd. for $15.3 billion in cash, seeking to capture a bigger slice of the U.S. property and casualty market as premiums rise after last year’s natural disasters. The French insurer is paying $57.60 …

Axa Eyes Options for European Asset Management Unit

French insurer Axa SA is reviewing options for its European asset management unit amid consolidation in the sector, according to people familiar with the matter. Axa is considering a merger or joint venture for the business, the people said, asking …

French Insurers & Bankers Aim to Beef Up Fintech Investments

After years of lagging behind London on spawning financial technology startups, Paris this week hosted a show of force aimed at proving the French capital can catch up as more than 1,500 bankers, investors and entrepreneurs gathered. The Paris Fintech …

SCOR Targets 7% Annual Rise in Gross Premiums During Next 3 Years

SCOR SE, France’s largest reinsurer, expects gross premiums to rise as much as 7 percent annually over the next three years on increased demand in Asia. SCOR has “significant growth potential” despite a challenging and uncertain environment for interest rates …

AXA Weighs 650 Belgium Job Cuts in ‘Transformation’ to Strengthen Unit

AXA SA is considering cutting 650 jobs in Belgium over the next two years, as Europe’s second-largest insurer overhauls its range of products sold in the country. AXA Belgium has presented the plan to unions Monday, Jef Van In, head …

Emerging Markets’ Claims Expected to Hit Coface’s 2016 Profit

Coface SA, a French export-credit insurer, warned Monday that higher-than-expected claims by companies trading with emerging markets may cut its 2016 annual profit. The Paris-based company also cited longer collection times in emerging regions, it said in a statement after …

AXA Plans $2.4B in Cost Cuts by 2020; Acquisitions Eyed for Growth

AXA SA, France’s largest insurer, plans to increase profitability through 2020 by seeking 2.1 billion euros ($2.4 billion) of cost cuts and growing digital investments to tap rising demand for policies protecting savings and health. The firm may also seek …

AXA’s CEO de Castries Predicts ‘Extremely High’ Probability of ‘Brexit’

There is an “extremely high” probability that the U.K. will vote to leave the European Union and investors will face “a true landscape of uncertainties,” AXA SA Chief Executive Officer Henri de Castries said. Neither the U.K. nor the EU …