AXA renames reinsurance arm in Mainland China
AXA renames reinsurance arm in Mainland China | Insurance Business Canada
Reinsurance
AXA renames reinsurance arm in Mainland China
Company gets regulatory approval
Reinsurance
By
Kenneth Araullo
AXA China Region Insurance Company (Bermuda) Limited, known as AXA Insurance, has announced the official name change of its reinsurance arm, XL Reinsurance (China) Company Limited, to AXA International Reinsurance (Shanghai) Company Limited, or AXA International Re.
The name change took effect on October 16, 2024, following approval from the National Financial Regulatory Administration (NFRA). The move highlights the company’s ongoing commitment to strengthening and expanding its reinsurance operations in mainland China, it said.
AXA International Re has secured all necessary regulatory approvals, including corporate changes and the appointment of key directors and officers, following AXA’s acquisition earlier this year.
What’s next for AXA International Re?
With a focus on data-driven pricing strategies and market expertise, AXA International Re said that it plans to broaden its product offerings and provide a wider range of reinsurance solutions tailored to the mainland Chinese market.
Sally Wan (pictured above), CEO of AXA Greater China, noted that AXA has been active in the Chinese insurance market since the 1990s.
“As a global leading insurer, we are actively refining our business development strategy to strengthen our presence in mainland China,” Wan said.
Wan emphasized that the renaming of the reinsurance arm to AXA International Re reflects the company’s commitment to providing innovative reinsurance solutions and leveraging its global expertise to support risk diversification.
“We appreciate the support from the National Financial Regulatory Administration during our transition and value the collaborative efforts of our teams, are essential for our growing reinsurance business,” she said.
AXA Insurance also noted that it aims to further develop its strategies to better serve the local market in mainland China. The company’s strategic focus is to meet the specific needs of mainland Chinese clients while expanding its reinsurance business.
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