By leveraging data, pricing strategies, and market expertise, AXA International Re is now in a very good position and will focus on developing products and pricing, offering a wider range of reinsurance solutions to its clients in the mainland Chinese market
HONG KONG: AXA China Region Insurance Company (Bermuda) Limited (“AXA Insurance”) is pleased to announce the official name change of XL Reinsurance (China) Company Limited (“XL Re China”) to AXA International Reinsurance (Shanghai) Company Limited (“AXA International Re”).
This change took effect on 16 October, 2024, following approval from the National Financial Regulatory Administration (“NFRA”). This milestone marks a pivotal moment in the commitment to expanding and enhancing reinsurance operations in mainland China.
Sally Wan, chief executive officer, AXA Greater China, said, “AXA entered into the Chinese insurance market since 1990s. As a global leading insurer, we are actively refining our business development strategy to strengthen our presence in mainland China. This strategic renaming to ‘AXA International Re’ underscores our commitment to the mainland Chinese market, where we aim to provide innovative and effective reinsurance solutions and leverage our global experience for risk diversification while fostering synergy with the AXA’s brand.”
“The collaborative efforts of the AXA entities across the Greater China have been instrumental in enhancing our capabilities and ensuring our success in this dynamic region. 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.”
AXA International Re also have manged to obtain all regulatory approvals for necessary corporate changes and nomination of key directors and officers, after the acquisition completed in April this year.
By leveraging data, pricing strategies, and market expertise, AXA International Re is now in a very good position and will focus on developing products and pricing, offering a wider range of reinsurance solutions to its clients in the mainland Chinese market.
With the comprehensive experience, expertise, infrastructure, and extensive network in the Greater China, AXA Insurance is poised to develop and implement expansive strategies, underpinning its business development efforts within mainland China. This strategic focus is aimed at more effectively serving local markets and addressing the specific needs of mainland Chinese clients.