Paris, July 4th, 2018
AXA Liabilities Managers completes the acquisition of the legacy assumed portfolio of Gothaer Finanzholding A.G. AXA Liabilities Managers confirms its 18th transaction on the external market.
The specialist run-off acquirer and manager, AXA Liabilities Managers (AXA LM), announces the closing of its 18th acquisition on the external market with Cologne-based Gothaer Finanzholding A.G.
The transaction took the form of a Loss Portfolio Reinsurance followed by a German portfolio transfer and received regulatory approval from BaFin on June 26th, 2018. Outstanding reserves approximately total €19 Million and are essentially composed of European Motor and General Liability Reinsurance.
“This transaction builds on AXA LM’s successful track record in Germany and we are pleased to have partnered with Gothaer by providing a legal finality solution for its legacy assumed reinsurance portfolio.” Sylvain Villeroy de Galhau, CEO – AXA Liabilities Managers
Guy Carpenter Munich acted as advisor for this transaction.