French insurer AXA said on Friday that it has stopped all new investments in Russian assets and would no longer underwrite reinsurance of the country’s insurance companies.
It said it had stopped underwriting new insurance business and all renewals concerning Russian-owned assets located in the country.
AXA added it had “no operational or management control” over RESO-GARANTIA, a Russian firm in which it bought a stake in 2008, and that it would remove its directors from the group’s board.
(Reporting by Sarah Morland; editing by Sudip Kar-Gupta)
Copyright 2025 Reuters. Click for restrictions.
Topics Carriers Reinsurance Russia France
Was this article valuable?
Here are more articles you may enjoy.
Suspects in Louvre Heist in Custody After Week-Long Manhunt 
Reuters: Iran, Russia and the New Zealand Insurer That Kept Sanctioned Oil Flowing 
France Makes New Arrests in Louvre Heist; Jewels Still Not Found 
Catastrophe Bond Investors Told to Brace for Jamaica Payout 
