AXA S.A. to operate as a licensed reinsurer

AXA has announced that AXA S.A., the holding company of AXA Group, has obtained its reinsurance license from the French Prudential Supervision and Resolution Authority. The grant of AXA S.A’s reinsurance licence follows shareholder approval relating to the necessary changes to AXA S.A’s bylaws at its Annual Shareholders’ meeting held recently.

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 P&C 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 by the end of June 2022, subject to regulatory approvals.