Homburger advises AXA SA on insurance regulatory aspects in its acquisition of XL Group Ltd
On September 12, 2018, AXA SA (AXA) announced that it acquired XL Group Ltd (NYSE:XL) as previously announced on March 5, 2018. Total consideration for the acquisition amounted to USD 15.3 bn fully paid in cash.
The AXA Group is a worldwide leader in insurance and asset management, with 165,000 employees serving 105 m clients in 64 countries and listed on compartment A of Euronext Paris (AXAF.PA).
XL Group Ltd, through its subsidiaries and under the XL Catlin brand, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world.
The acquisition is thought to be a unique strategic opportunity for AXA to shift its business profile from predominantly life and savings business to predominantly property and casualty business enabling AXA Group to become the global number one property and casualty commercial lines insurer based on gross written premiums.
Homburger advises AXA on all Swiss insurance regulatory aspects of this acquisition. The Homburger team was led by partner Hansjürg Appenzeller and included associate Kevin M. Hubacher (both Corporate / M&A and Insurance).