AXA Liabilities Managers (AXA LM) has received regulatory approval from the German regulator BaFin for the acquisition of a legacy assumed treaty reinsurance portfolio from AXA Versicherung AG on February 26th. This marks AXA LM’s 22nd acquisition and the 12th transaction in Germany.
The portfolio comprises Property and Casualty lines of businesses, including Aviation, APH, Marine and Motor.
The transaction will be made through an investment vehicle managed by AXA LM. “We are pleased to announce the completion of the transaction with AXA Versicherung AG. The acquisition of RenaissanceRe UK limited announced earlier this month and this latest acquisition are key milestones in AXA LM’s investment journey”, said Sylvain Villeroy de Galhau, CEO of AXA Liabilities Managers.
Olivier Le Guillou