Latest AXA XL Headlines
All the headlines from our AXA XL Topic Page, ordered by recency.
AXA Art Insurance Offers $100,000 Reward for Missing Artworks
May 4 2006 // AXA Art Insurance announced it is offering a $100,000 reward for credible information leading to the location, recovery and return of seven Milton Avery paintings that have been reported missing while en route from Boca...
AXA Receives ‘Binding Offer’ from Stone Point for Re business; Best, S&P Comment
Apr 10 2006 // France’s AXA Group acknowledged that it has received a binding offer for its reinsurance operation – AXA Re and its subsidiaries – from Paris Re Holdings Limited. As previously reported (See IJ Website...
Report AXA May Sell Reinsurance Units to Stone Point Capital
Apr 6 2006 // According to a report in the French financial daily Les Echos the AXA Group is close to concluding a deal to sell its reinsurance activities to the Greenwich, Conn.-based investment firm Stone Point Capital. Neither AXA...
S&P Bulletin Recognizes AXA’s Auto Policy Securitization
Mar 10 2006 // The London office of Standard & Poor’s Ratings Services has issued a statement indicating that it will “recognize a capital relief in its capital adequacy model for AXA Group (core insurance operating...
UN’s World Food Program Insures against Ethiopia Famine with AXA Re
Mar 9 2006 // The insurance industry has become a participant in a new and unusual initiative sponsored by the United Nations World Food Program, which aims to have funds available to meet the needs of disaster victims as soon as they...
AXA Records Strong 2005; Net Profit up 12% to $4.98 Billion
Mar 1 2006 // France’s AXA Group announced big earnings increases for the year 2005 with net profits up 12 percent to €4.173 billion ($4.98 billion). “Last year, AXA showed strong growth momentum, particularly in Life...
AXA Reports Strong Q4 Earnings; Annual Revenue up 6.9%
Jan 27 2006 // France’s AXA Group reported excellent results for the last quarter of 2005 and a full year increase in gross revenues of 6.9 percent. Overall sales rose from €67 billion ($33.72 billion) in 2004 to €71.7 billion...
S&P Sees European Securitizations Gaining Acceptance
Jan 19 2006 // Standard & Poor’s newly issued report on Corporate Securitizations notes that these types of transactions are gaining increasing acceptance as a capital management tool by European insurers, with Swiss Re and...
International Newsbriefs
Nov 21 2005 // New Bermuda Insurers Formed: As the proverb says: “It’s an ill wind that blows no man good.” Even Katrina, one of the “illest” winds of all time, has brought some good fortune to the...
News Briefs
Nov 20 2005 // New Bermuda Insurers Formed: As the proverb says: “It’s an ill wind that blows no man good.” Even Katrina, one of the “illest” winds of all time, has brought some good fortune to the...
S&P to Assign Rating to AXA’s Auto ART – A “Landmark Transaction”
Nov 10 2005 // Standard & Poor’s Ratings Services announced that it has assigned its preliminary credit ratings to the €200 million asset-backed floating-rate notes to be issued by FCC SPARC, an SPE, involving the...
AXA Posts Strong 9-Month Results
Nov 10 2005 // France’s AXA Group reported gross revenue increases in all of its business activities for the first 9 months of 2005. Highlights cited by the company in the report included the following: — Life & Savings...
S&P Affirms AXA Re ‘AA-” Ratings
Oct 18 2005 // Standard & Poor’s Ratings Services announced from its Paris Office that it has affirmed its “AA-” insurer financial strength ratings on French reinsurer AXA Re and its subsidiaries Compagnie...
AXA RE Estimates Impact of Hurricane Katrina Losses at $200 Million
Sep 15 2005 // AXA RE, the active reinsurer of France’s AXA Group, said the impact from Hurricane Katrina will probably result in total net losses of approximately $200 million before tax. “This estimate is net of reinsurance...
AXA 1ST Half Group Net Income Up 31% to $2.8 Billion; No Significant Effect from Katrina
Sep 7 2005 // France’s AXA Group said in a “pre-release” statement that its net profits for the group rose by 31 percent for the period ended June 1, 2005 to 2.274 billion euros ($2.844 billion), compared to 1.733...
Best Upgrades AXA Re, Subs Ratings
Jul 7 2005 // A.M. Best Co. announced that it has upgraded the financial strength rating to “A” (Excellent) from “A-” (Excellent) and the issuer credit rating to “a” from “a-” of AXA Re...
Best Downgrades Some AXA Canada P/C Subsidiaries
Jun 27 2005 // A.M. Best Co. announced that it has downgraded the financial strength ratings of several of AXA Canada Inc.’s wholly owned property and casualty insurance subsidiaries. The rating action affects the following...
S&P Sees No Rating Affect in AXA/Finaxa Merger
Apr 21 2005 // The Paris office of Standard & Poor’s Ratings Services has issued a statement indicating that it does not expect the proposed merger of Finaxa (not rated) into AXA (A/Stable/A-1) to affect the ratings on AXA,...
AXA, FINAXA Say Merger on the Horizon
Apr 19 2005 // The Supervisory Board of AXA and the Board of Directors of FINAXA announced Tuesday that they had approved the study of the principle of a merger through an absorption of FINAXA by AXA and for this purpose, appointed...
AXA Doubles Adjusted Earnings to $3.85 Billion
Feb 25 2005 // France’s AXA Group reported strong earnings results for 2004. Underlying earnings rose 34 percent to 2.7 billion euros ($3.58 billion) and adjusted earnings were 2.9 billion euros ($3.85 billion). “2004 has...
