Insight and Intelligence on the London & International Insurance Markets 18 Mar 2018

To view the full Insurance Insider site click here

Shareholders 'blindsided' by Axa's 'about-turn' on strategy

  • Rachel Dalton 13 March 2018
  • Shareholders feel "blindsided" by the abrupt change in Axa's strategy signalled by its $15.3bn purchase of XL Group, analysts have said.

    Axa's share price fell by 9.7 percent to EUR22.62 on 5 March, the day the deal was announced. A week on and the shares have not recovered, closing on Monday (11 March) at EUR22.50, implying the company has been adversely re-rated.

    Analysts told The Insurance Insider shareholders were shocked by Axa's plan to reposition itself towards P&C, as well...

  • If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership
  • Login Free trial
  • Login