Axa to complete $15bn XL takeover tomorrow
Deal has received regulatory approval.
Axa has confirmed it has obtained all regulatory approvals needed to complete its purchase of XL Group.
The deal was first announced in March 2018 and will see Axa pay $15bn in cash (£11.1bn) for 100% of XL.
Axa stated that the acquisition is expected to close tomorrow (12 September).
XL, which bought Catlin in 2015, was founded in 1986. The group had $15bn of gross written premium (GWP) in 2017 and 7,400 employees.
The combination of the two insurers will, on 2016 figures, have property and
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