Articles

Insurance

XL deal spooks AXA investors but it should prove “earnings accretive”

Investors were potentially spooked by AXA’s announcement yesterday (March 5) that it will acquire XL Group for $15.3 billion. Its share price fell sharply by around 10 percent as investors worried on a fundamental shift in strategy, according to analysts.   6 March 2018

Insurance

Sompo International poaches from ANV and Navigators to launch European specialty unit

Bermuda-based property /casualty re/insurer Sompo International has unveiled plans to launch a new European specialty insurance underwriting operation in Barcelona run by two senior executives it has hired.   6 March 2018

Alternative Risk Transfer

Terra Brasis Re renews its LatAm cat bond via AlphaCat

Brazilian reinsurer Terra Brasis Resseguros has renewed a cat bond that provides it with protection against certain types of property-catastrophe risk in Latin America on an indemnity basis.   6 March 2018

Insurance

XL deal changes AXA's DNA into that of a P&C player

AXA’s business mix will fundamentally change once its acquisition of XL Group is completed. Property/casualty (P&C) business will represent half its book of business as it diversifies away from being mainly a life & savings insurer.   5 March 2018

Insurance

AXA ownership will boost XL’s ability to grow its specialty products

XL Group hopes that being owned by AXA will help open up new markets for its specialty products, Gregory Hendrick, XL president, property & casualty, said on a March 5 presentation on the deal.   5 March 2018

Insurance

XL’s reinsurance portfolio and access to capital markets sweeten deal for AXA

One of AXA’s many motives in buying XL Group is the reinsurance portfolio it comes with, which will offer further diversification, and also the access to the capital markets that now comes hand in hand with this.   5 March 2018

Insurance

AXA acquires XL Group in $15.3bn deal

French insurer AXA is acquiring Bermuda-based property/casualty commercial lines re/insurer XL Group for $15.3 billion (€12.4 billion) in cash.   5 March 2018

Insurance

Maiden rating downgraded on declining balance sheet strength

Rating agency AM Best has downgraded Maiden’s rating outlook due to “a decline in balance sheet strength and the potential that continuation of recent underwriting and operating trends could lead to negative action on the rating”.   5 March 2018

Insurance

AIG, Travelers seen among potential acquirers in P&C sector

Heightening merger and acquisition (M&A) activities and rising pricing are tailwinds to P&C stocks, according to Morgan Stanley analysts.   2 March 2018

Alternative Risk Transfer

Hiscox expands ILS team

Bermuda-based Hiscox Re Insurance Linked Strategies, the ILS asset management arm of Hiscox, has appointed Ben Fox as portfolio manager.   2 March 2018

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