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
AXA XL, the new division of AXA Group, combines XL Group operations, AXA Corporate Solutions and AXA Art, to provide property, casualty and specialty risk insurance and risk management products and services for mid-sized companies through to multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward.
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