Articles by Maya Nikolaeva and Matthieu Protard

AXA Lowers 2020 Profit Guidance for XL Unit

French insurer AXA lowered its 2020 profit guidance for its companies-focused XL unit and named a new boss for the division, as it stepped up measures to reduce exposure to risks stemming from natural disasters that become more frequent. Insurers …

AXA Reports 66% Drop in 2018 Net Profit on U.S. Unit’s IPO Costs, Natural Disasters

Net profits at AXA, Europe’s second biggest insurer, fell sharply as a result of charges related to its U.S. unit’s initial public offering (IPO) and a spate of natural disasters, although AXA hoped for higher earnings this year. Its 2018 …

SCOR’s Net Profit in 2018 Rises 13% Despite Spate of Q4 Natural Disasters

French reinsurer SCOR, which was the target of a thwarted acquisition by rival Covea last year, posted a surge in overall 2018 net profits despite making a loss in the fourth quarter caused by a spate of natural disasters. Net …

Update: AXA Expects Profits to Be Boosted by Its $15 Billion XL Deal

AXA, Europe’s second-biggest insurer, expects its profitability to improve in the next two years thanks to U.S. business brought in by its new XL arm, and said it would now focus on expanding in Asia. The French insurer said profits …

XL Insurance to Cut Coal Industry Business Under Parent AXA’s Climate Order

AXA, France’s biggest insurer, has extended its climate change policy to its recently acquired XL division, joining a growing list of European insurers that have taken action to help to tackle global warming. AXA, Europe’s second largest insurer after Allianz, …

French Insurer CNP Declines to Comment About Merger Speculation

French insurer CNP, which has been the subject of merger speculation, reiterated its annual earnings growth targets as it posted higher interim net profits. CNP’s first-half net profits rose 2.3 percent to 672 million euros ($783.55 million). Excluding the effects …

AXA Prices IPO of U.S. Division to Help with XL Takeover

French insurer AXA on Thursday priced the forthcoming initial public offering (IPO) of its U.S. division at $24-27 per share, in a deal that could value the part of the business being listed on the market at $3.5 billion. AXA …

AXA Posts Higher-Than-Expected $7.6B Profit, Ahead of U.S. IPO

French insurer AXA posted higher-than-expected 2017 net profits and stronger earnings in the United States, ahead of the planned flotation of its American life insurance and asset management businesses in the second quarter this year. AXA, which ranks as Europe’s …

France’s AXA to Focus on M&A in 16 Countries; Eyes Sale of Some Non-Core Assets

French insurer AXA will narrow its acquisition focus to 16 key countries and could sell some assets in markets where it lacks scale, its executives said on Tuesday. “We want to focus on fewer countries. We want to focus on …

AXA Plans IPO of Minority Stake of U.S. Businesses to Free Up Capital

AXA Chief Executive Thomas Buberl plans to overhaul the group’s U.S. operations, proposing to float its American life insurance and asset management businesses in 2018 in order to free up capital and pursue takeover targets elsewhere. The listing of a …