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10 months ago

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Breakingviews - AXA's XL cleanup would be logical, if belated

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Breakingviews - AXA's XL cleanup would be logical, if belated

Thomas Buberl is trying to clean up an old mess. The boss of $66 billion AXA bought XL Group back in 2018 to beef up its position insuring against storms and other catastrophes. At the time investors complained about two flaws in the $15.3 billion deal: it was overpriced, and bulking up in exposure to unpredictable hurricanes and wildfires risked making earnings more volatile.

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Breakingviews - AXA's XL cleanup would be logical, if belated

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Breakingviews - AXA's XL cleanup would be logical, if belated

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