AXA seeks non-life legacy acquisition deals

AXA is fully equipped to target some of the largest acquisitions on the legacy market, said Sylvain Villeroy de Galhau, CEO at AXA Liabilities Managers (AXA LM).

AXA LM operating in four countries – France, Switzerland, the US and the UK – and focuses on the acquisition and management of non-life re/insurance legacy business.

“On June 22nd we closed the fundraising period for our second investment fund, AXA DBIO II,” Villeroy de Galhau said. “Thanks to this new fund, our organization is now fully equipped to target some of the largest acquisitions on the legacy market”.

Between July 4 and September 17, 2018, AXA LM announced the signing of three major deals. Two took place on the German market, with SOVAG and the reinsurance book of Gothaer, and one was the acquisition of Emirates Re in the United Arab Emirates.

“The run-off market is in full development and we see numerous new opportunities emerging,” Villeroy de Galhau said. “The management of run-off is now recognized as an integral part of the insurance lifecycle,” he added.

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