Latest news with #AXAGroup
Yahoo
05-07-2025
- Business
- Yahoo
BNP Paribas Cardif closes acquisition of AXA IM
BNP Paribas Cardif has completed the acquisition of AXA Investment Managers (AXA IM), enabling the creation of a major European asset management platform that oversees over €1.5tn ($1.76tn) in client assets. This move includes a long-term partnership with the AXA Group, allowing BNP Paribas Cardif to manage a significant portion of AXA's assets. In December 2024, BNP Paribas Cardif signed a share purchase agreement to acquire AXA IM in a deal valued at around €5.1bn ($6.40bn). The acquisition is said to establish BNP Paribas Group as the leading manager of long-term savings for insurers and pension funds in Europe, with approximately €850bn ($1tn) under management. Additionally, the group aims to excel in private asset fund collection and become one of Europe's top providers of exchange-traded funds (ETFs). By integrating the expertise of AXA IM, BNP Paribas Asset Management, and BNP Paribas REIM, the new platform will offer a diverse range of traditional and alternative assets, enhanced global distribution and improved innovation capabilities It will leverage AXA IM Alts' leadership in private assets, a critical growth area for both institutional and individual clients. This acquisition marks an advancement for the BNP Paribas Group's Investment and Protection Services (IPS) division. The platform will utilise the group's integrated model, collaborating closely with its commercial, personal banking and services (CPBS) and corporate and institutional banking (CIB) divisions through the 'originate to distribute' strategy. BNP Paribas director and CEO Jean-Laurent Bonnafe said: 'This acquisition is an important moment for the entire BNP Paribas Group. We are delighted to welcome the AXA IM teams, who will find within the BNP Paribas Group a strong culture of customer service as well as ambitious growth and innovation prospects. 'These are teams with recognised and complementary expertise that will build together a European industrial project to better serve our clients.' Joint working groups with AXA IM are already in place to develop a shared roadmap focusing on offerings and services, which will be presented to employee representative bodies. A proposed merger of the legal entities of AXA IM, BNP Paribas AM, and BNP Paribas REIM into the new platform under BNP Paribas Cardif is currently under consultation with employee representatives. Sandro Pierri, CEO of BNP Paribas AM, will lead the group's asset management activities, while Marco Morelli, executive chairman of AXA IM, will chair these activities for the BNP Paribas Group. "BNP Paribas Cardif closes acquisition of AXA IM" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
26-06-2025
- Business
- Yahoo
AXA creates unified Ceded Re team for streamlined operations
AXA has announced the integration of its AXA Group and AXA XL Ceded Reinsurance teams into a unified Ceded Re team, effective 1 July 2025. This strategic move is part of AXA's plan to streamline operations and execute a cohesive strategy with the aim of optimising its global reinsurance landscape. The unified Ceded Re team will be led by Guy Van Hecke, who will continue as group head of Ceded Re and head of Ceded Re for AXA XL. He will report to Nancy Bewlay, AXA Group chief underwriting officer, and maintain a matrix reporting line to Scott Gunter, CEO of AXA XL, with regard to AXA XL-associated responsibilities. Van Hecke said: 'By bringing together the strengths and expertise of our AXA Group and AXA XL teams, we are creating a more integrated and agile Ceded Re structure that will strengthen our partnerships globally. 'This strategic alignment enables us to reduce duplication, enhance market presence and ensure seamless communication across our global operations.' The new alignment is underpinned by four strategic objectives: consistent strategy, one AXA synergy, streamlined communication and optimised governance. These objectives aim to harmonise the approach to ceded reinsurance, leverage shared strengths, simplify engagement and strengthen operational frameworks. 'We believe these changes will not only strengthen our internal operations but also enhance the quality and effectiveness of our partnerships,' said Van Hecke. 'By aligning teams and elevating leadership across key areas, AXA is well-positioned to deliver on its commitment to operational excellence, innovation and trusted relationships across the global reinsurance landscape.' AXA Group operates in the insurance and asset management space, with 154,000 employees serving more than 95 million clients in 50 countries. In March, AXA XL Insurance named Sylvie Gleises as its new regional CEO for Asia, based in Singapore. "AXA creates unified Ceded Re team for streamlined operations" was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
06-05-2025
- Business
- Reuters
French insurer AXA reports 7% rise in first-quarter sales
PARIS, May 6 - French insurer AXA ( opens new tab beat market expectations with a 7% increase in first-quarter sales on Tuesday, fuelled by growth in its property damage and life and health insurance divisions. Gross written premiums and other revenues over the three months ending in March climbed to 37 billion euros ($41.94 billion), above the 36.3 billion-euro median average of analyst estimates compiled by the group. AXA's solvency II ratio, a key measure of financial strength, stood at 213% at the end of March, missing the 217% median analyst estimate. The decrease stemmed from a decline in the value of the U.S. dollar and a widening of spreads on sovereign bonds, the company said. "We are well positioned to achieve our goals by 2026, despite the complex international context we have been experiencing since the beginning of the year," Chief Financial Officer Alban de Mailly Nesle told reporters on a call. ($1 = 0.8821 euros)
