The following entities of the AXA XL Division have taken the actions below to provide continuity of service now that the UK has officially left the European Union (January 31, 2020.)
XL Insurance Company SE (“XLICSE”), AXA XL’s principal European insurance carrier re-domesticated from the UK to Ireland on January 18, 2019.
Moving XLICSE to be an Irish authorised insurer allows its clients and brokers to benefit from continuity of service through the XLICSE branch network in the EEA, which enables it to write business in domestic markets as well as providing the backbone of its Global Programs infrastructure.
XL Catlin Services SE, AXA XL’s European service company also moved from the UK to Ireland on October 25, 2019 as an Irish authorised insurance intermediary.
Lloyd's Part VII Transfer
Lloyd’s is proposing to transfer certain EEA insurance policies to Lloyd’s Brussels. The proposed transfer will not change terms and conditions of any policy, except that Lloyd’s Brussels will become the insurer and Data Controller in respect of the transferred policies.
Further information about the proposal (including whether it could affect your pre-transfer position), which policies are transferring, your rights and what you need to do can be found at lloyds.com/brexittransfer.
The XL Group (which was acquired by AXA on September 12, 2018) has had insurance operations in Dublin since 1990, when it opened its first European office and in 2006 it established XL Re Europe, which remains an Irish domiciled reinsurance company. Dublin was also the Group’s domicile between 2010 and 2016 before moving to Bermuda following the Group’s acquisition of Catlin Group Holdings which was already based in Bermuda. Today the AXA XL Division has insurance, reinsurance and corporate functions based in its office at No. 8 St Stephen’s Green, Dublin.
The XL Group was acquired by AXA on September 12, 2018 and is now a division of AXA known as AXA XL.
XLICSE is a significant, wholly owned subsidiary within AXA XL and provides a major insurance platform for AXA XL in Europe and Asia, operating through a network of branches, affiliates and third party fronting partners. It currently has branches across Europe in Austria, France, Germany, Ireland, Italy, Netherlands, Spain, Switzerland, Sweden and in the Asia Pacific region writing insurance business.
In the UK, AXA XL will retain XL Catlin Insurance Company UK Ltd, a UK regulated insurance company, and its Lloyd’s operations (Syndicate 2003 and 3002).
XLCSSE is an intragroup service company, wholly owned within AXA XL. It provides services primarily to companies within AXA XL, including the provision of intermediary services to XLICSE. XLCSSE operates through its head office in Ireland and it has branches in Austria, Belgium, Denmark, France, Germany, Italy, Netherlands, Norway, Poland, Spain, Sweden, Singapore, the UK, Mexico and Switzerland. Moving XLCSSE to Ireland has enabled it to continue servicing its key European intragroup companies.