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AXA XL cedes 30% of Florida renewal writings to third-party capital: Report

According to analysts that met with the senior management of AXA Group recently in London, the company has continued to utilise increasing amounts of third-party reinsurance capital to support its natural catastrophe exposures.Ever since the acquisition of XL Catlin, through which AXA acquired a broad reinsurance portfolio, deep expertise in read the full article →

AXA XL re-orgs reinsurance, with integrated alternative capital focus

AXA XL has announced a number of senior reinsurance leadership appointments and changes, as it seeks to simplify its structure around key markets and its strategy.Part of the change announced today appears to more closely align and integrate alternative reinsurance capital operations with the firms outwards reinsurance operations, use of read the full article →

AXA XL revenues rise 9%, with integration “progressing well” – CEO

The integration of Bermuda headquartered insurance, reinsurance and alternative capital management specialist XL into the AXA group of companies is "progressing well" according to AXA's CEO, with a strong half-year of revenues a sign of what may be to come.AXA has reported that revenues at its now combined AXA XL read the full article →

New Ocean’s McKeown departs, as AXA XL continues ILS growth

New Ocean Capital Management's former CEO Chris McKeown has stepped down from his Vice Chairman role to pursue other interests, New Ocean owner AXA XL said today.AXA XL acquired all third-party ownership interests in its already majority-owned insurance-linked securities (ILS) asset management affiliate, New Ocean Capital Management Limited, in November read the full article →

AXA XL grows New Ocean ILS assets to $1bn, buys more protection at 1/1

AXA XL purchased more catastrophe protection at the January 2019 renewals and also continued to increase its use of alternative reinsurance capital, which was evidenced by in-house ILS fund manager New Ocean's assets under management reaching $1 billion.AXA Group reported its highest earnings ever, on an underlying basis, rising 6% read the full article →

AXA plans to cede broader Group risk to ILS investors: Hendrick, AXA XL CEO

As global insurance and reinsurance group AXA increases its use of insurance-linked securities (ILS) capacity, the firm will aim to broaden the range of risks that it cedes to investors to include much more than just risks from the legacy XL Catlin portfolio.As we explained recently, AXA plans to further read the full article →

AXA to increase use of ILS capacity, as it further reduces cat risk in 2019

Global insurance and reinurance group AXA said that it plans to further enhance and increase its insurance-linked securities (ILS) capacity as part of its mission to de-risk and control its catastrophe exposure across the group, with further reductions in exposure expected in 2019.Since its acquisition of XL Catlin earlier this read the full article →

AXA XL takes 100% ownership of New Ocean Capital Management

Insurance and reinsurance firm AXA XL has acquired all third-party ownership interests in its already majority-owned insurance-linked securities (ILS) asset management affiliate, New Ocean Capital Management Limited.The move brings New Ocean fully in-house for AXA XL, with the ILS investment unit now set to become a wholly-owned subsidiary of the read the full article →

New Ocean delivers increased value to XL & investors as assets rise

Bermuda domiciled insurance-linked securities (ILS) and reinsurance linked investment manager New Ocean Capital Management Limited (New Ocean) has delivered increased value to its stakeholders and third-party investors over the course of 2016.New Ocean is part owned by global insurance and reinsurance group XL Group Ltd., private equity specialist Stone Point read the full article →

Mitsui takes stake in ILS manager New Ocean, invests $100m in funds

Japanese conglomerate Mitsui & Co., Ltd. has completed the recent acquisition of a 15% stake in Bermuda domiciled ILS and reinsurance linked asset manager New Ocean Capital Management Limited (New Ocean) and has made a $100 million commitment to the managers funds.Demonstrating its appetite to enter the ILS space and read the full article →