AXA S.A., the holding company of AXA Group, has obtained its reinsurance license from the French Prudential Supervision and Resolution Authority (ACPR).
The news follows the transformation of AXA S.A. into AXA Group’ s internal reinsurer. The merger is subject to customary regulatory approvals.
The transformation of AXA S.A into the group’s internal reinsurer aims to enhance capital fungibility across AXA Group, in line with AXA’s capital management policy.
AXA S.A. intends to reinsure part of its European property and casualty carriers through annually renewable quota share reinsurance treaties.
The transformation will be complete following the merger of AXA S.A. and its captive reinsurer, AXA Global Re, currently expected at the end of June 2022.
