XL Group News

AXA to Complete Acquisition of XL Group Sept. 12

Axa announced today that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group Ltd. previously announced on March 5, 2018. The Paris-based global insurer said it expects to close on the acquisition of XL …

UK Insurers Push Ahead with Brexit Plans in Absence of Trade Deal: A.M. Best Report

In the absence of a Brexit trade deal between the United Kingdom and the European Union, insurers in the UK have accelerated their plans to establish new EU subsidiaries and ensure business continuity after Brexit, according to a report published …

AXA Gives Under-Fire CEO Buberl a Needed Boost on Strong H1 Profits

AXA SA gave under-fire Chief Executive Officer Thomas Buberl a needed boost with first-half earnings that beat estimates and growth in new business. AXA, posting its first results since a disappointing partial spinoff of the French insurer’s U.S. unit, reported …

Interest in Crypto Insurance Grows, Despite High Premiums, Broad Exclusions

In the staid and buttoned-up world of insurance underwriting, few want to talk about it. You won’t find many ads promoting it or details on company websites offering it. But according to industry insiders, there’s a hot new business that …

AXA, XL Choose Name for Combined P/C, Specialty Operations: ‘AXA XL’

Following the completion of the acquisition of XL Group by AXA SA – expected in the second half of 2018 – the two insurers have chosen the name of the division that will be dedicated to large property/casualty commercial lines …

S&P Places AXA on CreditWatch Negative over Its Plans to Buy XL Group for $15.3B

S&P Global Ratings placed France’s AXA on CreditWatch with negative implications over its planned $15.3 billion purchase of XL Group Ltd. The ratings agency said it is worried about what the mega-deal could do to AXA’s capital reserves. At issue …

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 …

XL Group CEO McGavick Comments on Firm’s Agreed Purchase by France’s AXA

XL Group’s CEO Mike McGavick has issued the following statement to clients and brokers in response to today’s announcement that XL has entered into an agreement to be acquired by French insurer AXA. Dear Valued Partners, We wanted to let …

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 …

XL Group’s McGavick Cuts Exposure to Hedge Funds to Boost Investment Yield

XL Group Ltd., the insurer with about $38 billion of investments, is reducing its exposure to hedge funds, Chief Executive Officer Mike McGavick said. “We still do see some value there, but at this time we’ve seen it advantageous to …