January 13, 2003 at 07:00 PM
NU Online News Service, Jan. 13, 4:53 a.m. – The AXA Group, Paris, is shaking up its U.S. reinsurance operations to focus “on markets that it considers as being the most profitable ones.”
The company will stop writing and renewing U.S. life reinsurance contracts through AXA Corporate Solutions Life Reinsurance Company, U.S. financial guarantee reinsurance through AXA Re Finance, and U.S. property-casualty reinsurance through AXA Corporate Solutions Reinsurance Company.
The company will continue to write some property-casualty insurance in the United States through its main, Paris-based reinsurance unit, and it will also continue to be a direct writer of some forms of ordinary property-casualty insurance in the United States, such as marine insurance and space insurance, the company says.
AXA says its U.S. life reinsurance operations generated about $80 million in gross written premiums for the first half of 2002.
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