ACQUISITION OF GLOBAL RE
In 2014, AXA Liabilities Managers successfully completed the acquisition of the international subsidiaries of German reinsurance run-off manager Global Re. The professional families of each company successfully combined their strengths to form a new, close-knit team, which continues to manage all portfolios while seeking finality solutions.
Susan Wilcher, legal counsel for AXA LM in the United States, was involved in the legal and regulatory aspects of the transaction: “In the United States, each state has its own regulator, which meant that we had to pay attention to 45 licenses and check their compliance with regulations in every state.”
Claudia Ingenhoven, CEO of AXA LM Switzerland, participate&d in the due diligence: “We demonstrated not only our professional skills in liabilities management but also our expertise in M&A. The seller recognized us as a reliable partner.”
Robert Danilak (previously an employee of Global Re) and Mike Turiano, Non-life claims management team for AXA LM in the United States, recall: “In the first times, it wasn’t easy to work together as one team. But we were working at the same pace and shared the same goal. We worked hard to learn and understand the systems used by our two companies.”