Introducing AXA XL
The new division will be named AXA XL and will operate under the AXA brand. Its offerings will be identified along three main lines: (1) XL Insurance – will be comprised of XL Group’s insurance business and AXA Corporate Solutions, and will include XL Art & Lifestyle, the combination of XL Group’s Fine Art and Specie business and AXA Art offerings. (2) XL Reinsurance – will incorporate XL Group’s reinsurance business. (3) XL Risk Consulting – will incorporate AXA Matrix and XL Group’s Property Risk Engineering GAPS. In addition, XL Group’s primary Lloyd’s syndicate will continue to be known as XL Catlin Syndicate 2003.
“We are very pleased to announce another important milestone in the integration planning process with XL Group, which will see AXA become the #1 global P&C commercial lines insurer. Behind this new common branding and naming, I am excited to see the future creation of AXA XL, a division based on AXA’s and XL Group’s shared culture around people, operational excellence, and innovation. The combination of these attributes will position us perfectly to establish an even stronger brand leadership and bring a unique value proposition to our customers.” – CEO of AXA, Thomas Buberl.
“We recognize the opportunity we have ahead to take the unique mix of elements that make XL a success – our talent, our approach, our tools – and bring them into the AXA family. I believe we will be stronger together and will be ambitious . We are going to continue to put our clients and brokers at the heart of what we do, while staying firmly focused on the future of risk and the solutions needed to advance.” – President and Chief Operating Office of XL Group, Greg Hendrick.
Until the acquisition closes, XL Group and AXA remain two separate companies.