Axa XL completes acquisition of Bermudian asset management firm

French insurer Axa S.A.'s subsidiary Axa XL has completed the acquisition of all third-party ownership interests in Bermuda-based New Ocean Capital Management Ltd., The Royal Gazette reports. New Ocean has been absorbed into Axa XL’s alternative capital business. During the transition period, Chris McKeown, the founding CEO of New Ocean, will continue to serve as an advisor to Axa XL's alternative capital business. He will also continue to serve as a director of certain New Ocean managed funds.

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