AXA XL replaces CEO and takes action as 2019 results fall below expectations

AXA CEO Thomas Buberl

AXA XL says its new CEO, accelerating price rises and further de-risking will help boost profitability, after 2019 earning figures fell below expectations. AXA XL saw revenues increase 10% in 2019, helped by “extremely brisk” price rises. But the unit’s combined ratio stood at 101.5%, and the firm’s CFO Etienne Bouas-Laurent said €507m of underlying earnings were “slightly below” expectations…

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