Axa: prepares to finalise acquisition of XL
(CercleFinance.com) - AXA is preparing to complete the acquisition of the US company, XL Group, announced on 5 March, and announces the creation of the division AXA XL.
To this end, in one entity the French insurer will combine the activities of XL, those of AXA Corporate Solutions and AXA Art in a new division dedicated to P&C insurance of large companies and specialty risks. The new entity will be called AXA XL and its services will be broken down into three product lines: XL Insurance, XL Reinsurance, and XL Risk Consulting.
AXA CEO Thomas Buberl said that this is an important step in the integration process of the XL Group, which will make AXA the world leader in commercial property and casualty insurance.
The merger is still expected to be finalised in the second half of 2018.
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