AXA completes its largest acquisition since 2006 with XL Group
Sacred first global brand insurance by 2017, the AXA group has announced the takeover of the insurer and reinsurer Bermuda-based XL Group for $ 15.3 billion (approximately € 12 billion). It is a question of its acquisition, the largest since 2006. Spotlight.
A market capitalization at 8 billion euros
Shows actor insurance, AXA has announced the buyout of XL Group, the insurer and reinsurer side of Wall Street, whose market capitalization reached $ 11 billion, more than 8 billion euros.
In the amount of $ 15.3 billion, or a little more than 12 billion euros, the transaction must be finalized in the 2nd half of 2018, allowing AXA to become a «global leader of the market of the insurance companies,» according to a press release from the group, which also refers to an annual turnover of about 30 billion euros in 2016.
For memory, it is necessary to go back to 2006 to find the most important acquisition of AXA. It was a case of the insurer swiss Winterthur which had been acquired by 8.9 billion euros.
Reinsurance, property and casualty insurance and specialty insurance
As pointed out rightly The Argus of insurance, AXA announced in November 2017 and that its development efforts would focus on 16 key countries representing 10 major markets, such as France and the United States as well as 6 potential countries including Thailand, Brazil and the Philippines. Side products, the group prefers to now the health insurance, the insurance companies and provident funds.
With the acquisition of XL group, the French international has moved to a new operator, which amounted to $ 14,75 billion dollars (nearly 12 billion euros) of gross written premiums in 2017. A closer look, the insurer and reinsurer, is very active on the other side of the Atlantic, accounts for one third of its revenues in the reinsurance and the other two-thirds in the general insurance and specialist insurance (works of art), aviation, space risks,…etc).