AXA rebrands China reinsurance unit to AXA International Re

AXA Insurance has renamed its China reinsurance business, XL Re China, to AXA International Re, according to finews.asia.

This reportedly follows AXA’s acquisition of the mainland China unit in April.

Sally Wan, CEO of AXA Greater China, commented, “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 brand.”

Wan continued, “The collaborative efforts of the AXA entities across 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.”

In related news, during August, AXA Hong Kong and Macau announced the launch of a “market-first” Heatwave Parametric Insurance product created to provide enhanced protection for outdoor practitioners amid escalating climate risks in Hong Kong’s summer.

Emily Li, Chief Employee Benefits & Wellness Officer, AXA Hong Kong and Macau, said at the time,  “Global warming is driving extreme climate conditions, with Hong Kong’s hot weather continuing to intensify and posing health risks to the public.

“Corporations play a critical role in addressing these climatic challenges by ensuring an optimal employee benefits strategy to support and protect employees in this rapidly evolving world.

“Our new product is notable as the first parametric insurance in the city tailored to mitigate the impacts of climate change on employees. It serves as a testament to our expertise in protection and our comprehensive insights into climate dynamics.”

Li concluded, “This initiative exemplifies our commitment to integrating sustainability into our business propositions, and providing enhanced protection for a workforce facing increased risks due to changing environmental conditions.”

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