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