September 12, 2018 - As AXA is starting its new journey as the world leading commercial insurer, insuring all types of risks for the smallest SME to the largest multinational corporation, Thomas Buberl, CEO of AXA, and Greg Hendrick, CEO of AXA XL, the new division combining XL Group operations, AXA Corporate Solutions, AXA MATRIX and AXA ART, comment this big move forward in AXA’s transformation.
With the acquisition of the XL Group, AXA accelerates its strategy and becomes the #1 commercial line insurer worldwide. Read below what Thomas and Greg think about this historical leap forward in AXA’s history.
1. Why did you choose, back in March 2018, to make the acquisition of the XL Catlin Group?
Thomas: This acquisition was not decided and made in a snap! We thought long and hard about it. Back in 2015, we launched our 2020 Ambition plan, with the goal to change our risk profile, moving away from our exposure to financial markets risks, to significantly increase our exposure to insurance risks, going back to the very roots of our business. This is exactly what the XL acquisition will allow us to do: change the risk profile of the Group by embracing more insurance risks. We are creating the world’s leading insurer for large corporates and the mid-caps at the global level. More...