AXA XL completes merger of XL Insurance Company SE with AXA Corporate Solutions and AXA ART
AXA XL today announced it has successfully merged AXA Corporate Solutions (ACS) and AXA ART into XL Insurance Company SE (XLICSE).
The Merger, which was approved by the relevant regulatory authorities including the Central Bank of Ireland and the Irish High Court, became effective on 31 December 2019.
The decision to merge ACS and AXA ART into XLICSE was taken following the acquisition of XL Group Ltd by AXA, which was completed in September 2018.
XLICSE is a wholly owned subsidiary within the AXA XL division of AXA Group, providing insurance within Europe and Asia and operating through an international network of branches, subsidiaries and third-party partners.
On the 31 December 2019 XLICSE assumed the entire business of ACS and AXA ART and became the insurer or reinsurer of each policy previously underwritten. There will be no other changes to the terms of existing policies.
Commenting on the announcement, AXA XL’s Chief Executive Officer, Greg Hendrick, said: “We are extremely pleased to have completed this merger. Consolidating our legal entities across
AXA XL allows us to streamline our processes to the benefit of our clients and brokers. I am proud of the AXA XL team for their dedication and the work undertaken in the last year, which has led to the successful establishment and unification of AXA XL.”
Authored by AXA XL
About AXA XL
AXA XL is the P&C and specialty risk division of AXA which provides property, casualty, professional and speciality products to industrial, commercial and professional firms, insurance companies and other enterprises, here in the UK and throughout the world. With underwriting teams based in the US, UK, EMEA and Asia Pacific regions, we can make decisions close to the markets you serve and work with you to tailor cover to your business needs.
We help businesses adapt and thrive amidst change. Rather than just paying covered claims when things go wrong, we go beyond protection into prevention so your business can go beyond the unexpected.