There have been several interesting transactions in the past six months as a number of serial consolidators have looked to take advantage of a growing desire on the part of insurers to move certain blocks of business off their books
>> Representing something of a typical deal, specialist run-off acquirer and manager AXA Liabilities Managers acquired the run-off portfolio of Düsseldorf-based German insurer Provinzial Rheinland.
The deal, made through AXA Liabilities Managers’ investment vehicle AXA Discontinued Business Investment Opportunities, which invests in run-off acquisitions, marked AXA’s 16th acquisition and its 10th with a German seller.
Sylvain Villeroy de Galhau, CEO of AXA Liabilities Managers, commented that AXA had ‘won’ the deal in the face of intense competition.
Run-off, Insurance, Acquired, Acquisition, Re-insurance, Investment, German, Round-up, Portfolio, Ikano, Insurers, Consolidators, Transactions