Covea reportedly aims to acquire Axa XL Re

French insurer Covea Groupe SAS is reportedly looking to acquire insurer Axa SA’s Bermuda-headquartered nonlife reinsurance division Axa XL Re, Artemis reported citing L’Argus de L’Assurance. The transaction, if it materializes, would help Covea attain its goal of acquiring a large, global reinsurance operation, after failing to do so in the past attempts with PartnerRe Ltd. and Scor SE.

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