AXA News

Global Regulators’ Rethinking of Risk Assessment Welcomed by Large Insurers

Global regulators are rethinking how to assess risks in big insurance companies, marking a shift that could make life easier for the industry. The Financial Stability Board said on Tuesday it could take a different approach to assessing risk which …

Europe’s Re/Insurers Cut Coal Investments by $20B; U.S. Firms Fail to Act: Report

Insurers have pulled $20 billion out of coal investments, but most are European and none of the top nine U.S. insurers has taken “meaningful action,” campaign group Unfriend Coal said on Wednesday. Government representatives and officials at this week’s U.N. …

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 Simplifies Structure with 5 Geographies; New Management Committee Formed

AXA Group announced it is simplifying its operating model by creating five global geographies: France, Europe, the U.S., Asia, and International. In addition, it has created a single, refocused Corporate Center, which is reduced from the three layers (head office, …

As China’s Insurance Market Liberalizes, There Will Be Many Winners: Opinion

Foreign insurers, especially AIA Group Ltd., can break out the champagne: China’s opening of its financial markets is great news. The day after U.S. President Donald Trump left Beijing with billions of dollars of deals with President Xi Jinping, the …

Insurers Weigh Premium Hikes for UK’s Tall Buildings After Grenfell Tower Fire

Insurers are considering raising premiums for tall buildings in Britain with flammable cladding panels and no sprinklers or even excluding related risks following the Grenfell fire in London earlier this year. Inquiries into the tragedy, which killed up to 80 …

AXA Rebuffs Suitors Eyeing Its Asset Management Arm

French insurer AXA has been approached by a number of players interested in doing a deal with its asset management arm, but continues to regard the business as a strategic asset, the unit’s chief executive said in an email to …

Insurers to Crack Down on Illegal Fishing by Denying Coverage

A coalition of insurance firms agreed on Friday to crack down on pirate fishing by banning coverage for trawlers whose illegal catches are worth at least $10 billion a year. Firms would deny insurance for vessels on a European Union …

AXA Continues Search for Fund Management Partner

AXA has talked to BNP Paribas and Natixis in its search for a partner for its fund management arm, aiming to build a business with at least 1 trillion euros ($1.2 trillion) of assets under management, sources familiar with the …

Reinsurers Invest in Fintech Startups to Diversify and Grow in Soft Market

When Micah Carr-Hill wanted to insure Chief, the Labrador that helps with his son’s autism therapy, he found an ally in Munich Re, the world’s biggest reinsurer. The German company had just teamed up with a U.K. internet startup to …