Axa XL revenues up 4% despite 40% drop in nat-cat exposure
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Axa XL revenues up 4% despite 40% drop in nat-cat exposure

Luke Harrison
06 May 2022
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Axa XL logo Stamford CT.jpg

Total revenues at Axa XL increased 4% year-on-year to EUR6.2bn ($6.5bn) for Q1, as top-line growth was partly offset by an 18% overall drop in revenue at Axa XL reinsurance due to the carrier reducing its nat-cat exposure.

The carrier said in its trading update that it has been repositioning its reinsurance portfolio, with nat-cat exposure already trimmed by 40% across the first quarter’s renewals.

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