AXA SA gets green light as AXA Group’s internal reinsurer
AXA has announced that AXA SA, the holding company of AXA Group, has obtained its reinsurance license from the Autorité de contrôle prudentiel et de résolution (ACPR – the French Prudential Supervision and Resolution Authority).
This completes the previously announced transformation of AXA SA into AXA Group’ s internal reinsurer.
According to AXA SA, it becoming the Group’s internal reinsurer will enhance capital fungibility across AXA Group, in line with AXA’s capital management policy.
AXA SA now intends to reinsure part of its European P&C carriers through annually renewable quota share reinsurance treaties.
The grant of AXA SA’s reinsurance license follows shareholder approval relating to the necessary changes to AXA SA’s bylaws at its annual shareholders’ meeting held on April 28, 2022.