The AXA Group granted a reinsurance license

AXA has been granted a license by the French Prudential Supervision and Resolution Authority (ACPR) to conduct life and non-life reinsurance business in France.

The transformation of the group will result in the merger of AXA Holding SA with its reinsurance captive AXA Global Re.

The transaction, which is subject to the approval of the relevant authorities, is expected to be completed by the end of June 2022.