Axa XL has merged Axa Corporate Solutions and Axa Art into Irish insurer XL Insurance Co. SE, effective Dec. 31, 2019.
The merger was approved by the relevant regulatory authorities, including the Central Bank of Ireland and the Irish High Court.
XL Insurance, which is a wholly owned subsidiary within the Axa XL division of Axa Group, assumed the entire business of Axa Corporate Solutions and Axa Art and became the insurer or reinsurer of each policy previously underwritten. There will be no other changes to the terms of existing policies.
The decision to merge the entities into the Irish insurer was taken after the acquisition of XL Group Ltd. by Axa SA, which was completed in September 2018.