Denis Duverne News

Insurers to Offer up to $5B in Capacity to Hike Developing Nations’ Climate Resilience

Insurers are partnering with the United Nations and other public groups to help the poorest countries bounce back from natural disasters that may become a more regular occurrence. As part of the program, as much as $5 billion in insurance …

AXA’s Duverne Named Chairman of Insurance Development Forum, Replacing Catlin

The Insurance Development Forum (IDF) announced the appointment of Denis Duverne as chair of its Steering Committee, succeeding Stephen Catlin, effective Sept. 11, 2018. The IDF is a public-private partnership, led by a senior insurance industry executive and supported by …

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 …

Re/Insurance CEOs Join Insurance Development Forum, UN & World Bank Initiative

A group of re/insurance and global broking CEOs are assisting the work of the Insurance Development Forum (IDF), which was launched last month to help build resilience to climate risk and natural disasters, while bridging the insurance protection gap for …

AXA & Chaucer Form Strategic Partnership to Provide African Specialty Insurance

AXA is targeting the rapidly expanding market for African specialty insurance by partnering with Chaucer, a Lloyd’s specialty insurance group. The new venture, called “AXA Africa Specialty Risks,” will be dedicated to covering specialty insurance lines in Africa, with a …

Update: AXA’s Chairman & CEO De Castries to Retire Early; Buberl Named CEO

AXA SA Chairman and Chief Executive Officer Henri de Castries is leaving earlier than expected, handing over the post of CEO to Thomas Buberl as France’s largest insurer splits its top jobs. De Castries, 61, will retire at the start …

AXA to Pay Higher Dividends as Result of ‘Robust’ Capital Levels

AXA SA, France’s largest insurer, will pay higher dividends to shareholders because of its “robust” capital levels under solvency rules which are coming into effect in January. AXA plans dividend payouts of 45 percent to 55 percent of its adjusted …

AXA Enters Exclusive Negotiations to Buy Genworth Lifestyle Protection Insurance

Paris-based AXA has entered into exclusive negotiation with Genworth Financial to acquire 100 percent of Genworth Lifestyle Protection Insurance (Genworth LPI), for a total cash consideration of 475 million euros. Genworth LPI is the seventh largest creditor insurance player in …

AXA to Acquire 7% of Africa Re to Increase Pan-African Exposure

AXA has entered into an agreement to acquire a 7.15 percent stake in African Reinsurance Corporation, the leading reinsurance company in Africa. Under the terms of the agreement, the total cash consideration payable at closing would amount to USD$61 million …