Skip to content
Subscriber Only

Axa in Advanced Talks to Buy U.S. Insurer XL Group

  • XL’s market value has jumped to $11 billion this year
  • Buying Bermuda insurer would bolster U.S. casualty business
Axa Asia Pacific Rejects $10 Billion AMP, Axa SA Bid As Too Low

Photographer: Carla Gottgens/Bloomberg

Updated on

Axa SA is in advanced talks to buy XL Group Ltd., a property and casualty insurer with a market value of $11 billion, people familiar with the matter said.

A deal could be announced in coming days, said the people, who asked not to be identified because the matter isn’t public. XL has also attracted interest from insurers including Germany’s Allianz SE, Bloomberg reported last month. A final deal hasn’t been reached and another bidder may yet emerge or talks may fall apart, the people said.