Axa flags Buying XL, which sells insurance to other insurers, would bolster Axa's casualty-coverage business in the U.S. just as premiums rise after last year's natural disasters. (Photo: Bloomberg)

(Bloomberg) – Axa SA agreed to buy XL Group Ltd. for $15.3 billion in cash, the biggest-ever European acquisition of a U.S. insurer, sending its shares plunging.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Agency Management
Commercial Lines
E&S/Specialty
Personal Lines