AXA SA (AXA.MU)
- Insider Monkey
The Most Profitable Insurance Company in the World
We recently compiled a comprehensive report on the 20 Most Profitable Insurance Companies in the World and in this article, we’ll be discussing the world’s most profitable insurance company. The Current State of Insurance The Red Sea Crisis is impacting the insurance industry. On January 16, Reuters reported that war insurance claims have risen tremendously amid […]
- Reuters
Athora abandons plans to buy German run-off insurance portfolio from Axa
Athora Holding has given up on plans to buy a German portfolio of run-off life insurance policies from the French insurer AXA, it said on Thursday. The parties announced the sale of the portfolio, with a volume of 16 billion euros ($17.13 billion), for 660 million euros in 2022. But Athora, which describes itself as a savings and retirement services group, said on Thursday that financial conditions had changed, and it had mutually agreed with AXA not to pursue the deal for the portfolio of policies that is known as "run-off" because it is not taking on any new business.
- Reuters
AXA's first quarter sales rise 6%, led by policies to companies
AXA, Europe's second-biggest insurer, reported 6% growth in first quarter sales on Thursday, led by property damage insurance to companies, its biggest business line. Sales of AXA's so-called commercial lines, or insurance policies for companies, rose by 7% on a comparable basis to 12.1 billion euros, underpinned by its U.S. subsidiary AXA XL Insurance unit as well as higher prices in Turkey and in France and other European markets. Asked about the impact of the collapse of the Francis Scott Key Bridge in the U.S. city of Baltimore, Chief Financial Officer Alban de Mailly Nesle said he expected related insurance claims to cut less than 100 million euros from the group's pre-tax earnings in 2024.
