Latest AXA XL Headlines
All the headlines from our AXA XL Topic Page, ordered by recency.
Hans-Peter Gerhardt Named New AXA RE CEO
Mar 19 2003 // France’s AXA Group announced that Hans-Peter Gerhardt, currently a member of the Executive Committee and Vice-President of the Board of Directors of General Cologne Re will join AXA RE as CEO, effective May 1,...
AXA Reports 10% Gain in 2002 “Underlying Earnings”
Feb 27 2003 // France’s AXA Group posted a 10 percent increase in “underlying earnings” for the year 2002, helped by significant increases in premiums in its P/C business. The results, while generally good, also reflect...
S&P Lowers AXA Group Ratings to ‘AA-‘
Feb 12 2003 // Standard & Poor’s Ratings Services announced that it has lowered all insurer financial strength and counterparty credit ratings on the core operating companies of France’s AXA group to ‘AA-‘...
AXA 2002 Gross Revenues Top $80 Billion
Feb 6 2003 // France’s AXA Group released earnings results showing that its total gross revenues in 2002 reached 74.728 billion Euros ($80.7 billion), approximately the same figure it reported for 2001. The company said, however,...
Moody’s Revises AXA Group’s Debt Rating Outlook from Stable to Negative
Jan 31 2003 // Moody’s Investors Service announced that it has changed its outlook to negative from stable on the A1 senior debt and A2 subordinated and junior subordinated debt ratings of France’s AXA group. Moody’s...
AXA Reappoints Management Board; deCastries Confirmed as Chairman
Jan 16 2003 // France’s AXA Group announced that its Supervisory Board had reappointed all five members of the company’s Management Board at a recent meeting, and had reconfirmed Henri deCastries as Board...
Rating Agencies Lower AXA’s U.S. Reinsurance Companies on Restructuring Plans
Jan 14 2003 // Yesterday’s announcement by France’s AXA Group that it would significantly curtail reinsurance operations in the U.S. (See IJ Website Jan.13) – ceasing both its financial guaranty reinsurance activities...
AXA Restructures Reinsurance Activities, Will Reduce U.S. Business
Jan 13 2003 // Philippe Donnet, the head of AXA Corporate Solutions in Paris, announced some major changes in the division, including a retreat from the U.S. market for financial guarantees and curtailing U.S. reinsurance operations. AXA...
AXA, U.K.’s Hammerson to Develop Prestige Site in Paris
Jan 6 2003 // France’s Axa Group has concluded an agreement with U.K. property developer Hammerson PLC to create a new office and shopping complex in the Place Vendome, rue St. Honoré area, one of the most fashionable and...
Axa To Sell Credit Lyonnais Stake to Credit Agricole, Maybe
Jan 3 2003 // France’s AXA Group, has decided to tacitly back Credit Agricole’s acquisition of Credit Lyonnais (CL) by offering to sell its 5.3% stake, conditioned, however, upon there being no rival bid from BNP Paribas,...
AXA’s German Division in Talks to Sell Austrian Operations
Dec 18 2002 // AXA Konzern AG (Germany), a subsidiary of the French insurance group, is in discussions to sell its business in Austria, AXA Konzern AG (Austria) to a group of shareholders of Vienna-based UNIQA Versicherungen AG. No...
AXA Posts 2.5% (5.3% Comparable) Revenue Gain for First 9 Months
Nov 13 2002 // France’s AXA earned total revenues of Euro 56.911 billion in the first nine months of the year, compared to Euro 55.539 billion in the same period last year, a 2.5 percent increase. Factoring in exchange rate...
AXA Chairman Rules Out Capital Increase
Oct 7 2002 // In an interview with the French financial journal La Tribune, AXA’s CEO, Henri de Castries indicated the company had no plans to raise additional capital and had sufficient funds on hand to continue its...
AXA Receives Approval to Issue New Shares to Employees
Sep 10 2002 // AXA announced that French Regulatory Authorities (the “COB”) had given the company the green light to issue up to 35 million new shares to more than 100,000 employees in 29 countries. The shares will be priced...
AXA Confirms 17% Increase in 1st Half Operating Earnings to €1.02 Billion
Sep 3 2002 // France’s AXA Group confirmed its earlier estimates (See IJ Website Aug. 21) by officially posting 17 percent growth in operating earnings to €1.022 ($1 billion) for the period ended June 30, compared to €876...
AXA Says Fundamentals Are Good
Jul 25 2002 // According to international insurer The AXA Group, the strong fall in the equity market over the last few months, which has impacted certain industries— including the insurance sector—is disconnected with the...
AXA Announces Decline in Embedded Value for 2001
Jun 13 2002 // France’s AXA Group announced that the giant insurer’s overall embedded value – the total of shareholders’ net assets and the value of insurance in force – fell 1.4 percent last year to...
S&P Lowers AXA General Hong Kong Rating to ‘BBpi’
Jun 12 2002 // Standard & Poor’s announced that it has lowered its public information (‘pi’) rating on AXA General Insurance Hong Kong Ltd., a subsidiary of France’s AXA Group, to double-‘Bpi’...
A.M. Best Lowers Ratings on AXA’s Corporate Solutions Units
Jun 10 2002 // A.M. Best announced that it has downgraded the financial strength ratings to A (Excellent) from A+ (Superior) of the members of the France’s AXA Group Corporate Solutions units (AXACS). Best’s bulletin cited...
AXA To Acquire BNP’s Banque Directe
Jun 7 2002 // French insurer AXA and BNP Paribas, the country’s second largest bank, announced that they have concluded an “an agreement in principle” for the sale of BNP’s on-line banking subsidiary Banque...
