AXA and XL Group announced the branding of their combined operations
Thus, the new AXA XL division will operate under the master brand of AXA and will be dedicated to large P&C commercial lines and specialty risks and will combine XL Group operations with AXA Corporate Solutions and AXA Art.
According to the statement, its offerings will be identified along three main lines:
- XL Insurance - which will comprise 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;
- XL Reinsurance - that will incorporate XL Group's reinsurance business;
- XL Risk Consulting - that will incorporate AXA Matrix and XL Group's Property Risk Engineering GAPS.
This new branding and naming follows the announcement on June 6th that XL Group's shareholders had approved the agreement for AXA to acquire 100% of XL Group.
The closing of the acquisition is expected to be completed during the second half of 2018, subject to customary closing conditions, including the receipt of required regulatory approvals, which remain pending. Until the acquisition closes, XL Group and AXA remain two separate companies.