AXA XL has merged its AXA Corporate Solutions and AXA ART divisions into XL Insurance Company SE (XLICSE).
Greg Hendrick, AXA XL’s CEO, said consolidating the legal entities across AXA XL allows the group to streamline its processes, benefiting both clients and brokers.
XLICSE is a wholly owned subsidiary of AXA XL and provides insurance in Europe and Asia, operating through an international network of branches, subsidiaries and third-party partners. It has now assumed the entire business of ACS and AXA ART, acting as re/insurer for each policy previously underwritten. There will be no other changes to the terms of existing policies.
The decision to merge the businesses was taken following the acquisition of XL Group by AXA in September 2018. The merger was approved by the relevant regulatory authorities including the Central Bank of Ireland and the Irish High Court.
AXA XL, Greg Hendrick