AXA Group’s holding company, AXA S.A., can now act as the organisation’s internal reinsurer after successfully obtaining a reinsurance license.
In line with AXA’s capital management policy, the insurer is transforming AXA S.A. into its internal reinsurer to enhance capital fungibility across the group. The plan is to reinsure part of the group’s European property & casualty carriers through annually renewable quota share reinsurance treaties.
“The transformation will be complete following the merger of AXA S.A. and its captive reinsurer, AXA Global Re, currently expected at the end of June 2022,” stated AXA.
The reinsurance license was granted by Autorité de contrôle prudentiel et de resolution, the French Prudential Supervision and Resolution Authority.