Axa in talks to buy XL Group

France-based insurer Axa S.A. is in advanced talks to buy Bermuda-based counterpart XL Group Ltd., The Royal Gazette reported citing sources. A deal could be announced soon, the sources said. The acquisition is likely to bolster Axa's casualty coverage business in the United States. Thomas Buberl, chief executive of Axa, said that Axa plans to focus its expansion on fewer countries, with scale being an important factor.

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