Axa to complete $15bn XL takeover tomorrow

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Axa has confirmed it has obtained all regulatory approvals needed to complete its purchase of XL Group.

The deal was first announced in March 2018 and will see Axa pay $15bn in cash (£11.1bn) for 100% of XL.

Axa stated that the acquisition is expected to close tomorrow (12 September).

XL, which bought Catlin in 2015, was founded in 1986. The group had $15bn of gross written premium (GWP) in 2017 and 7,400 employees.

The combination of the two insurers will, on 2016 figures, have property and

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