Investment Process

AXA XL ILS Capital Management employs a research based quantitative and analytical framework to construct and manage portfolios. AXA XL ILS Capital Management is able to fully leverage capabilities of broader AXA XL. These include, sourcing, modeling and underwriting of individual contracts and claims management and reserving capabilities. AXA XL originates, models, underwrites and prices risks. Business is bound based on strategic underwriting direction from senior management and AXA XL's risk appetite.

Drivers include:

Drivers Factor
AXA XL cost of capital considerations (where 'capital' is broadly determined in relation to TVaR metrics)
Drivers Factor
adequacy levels
Drivers Factor
Drivers Factor
Single layer / single counterparty risk limits / underwriting committee / senior management approvals

AXA XL ILS Capital Management is an operating unit within AXA XL, the Property & Casualty division of AXA Group. To facilitate its insurance linked securities (ILS) and collateralized reinsurance investment activities, AXA XL ILS Capital Management manages and operates New Ocean Capital Management ("NOCM" or "New Ocean") (the investment manager for the funds), XL Underwriting Managers Ltd ("XLUM") (a licensed insurance manager), and a number of Bermuda based funds and special purpose insurers. Our strategies follow the aligned business model, wherein the risks are originated by leveraging capabilities of AXA XL and AXA.

Pantheon, our core ILS strategy, offers institutional investors ability to co participate in AXA XL's global property catastrophe business.

Investment Process

Investment Process

Underwriting and portfolio management process

AXA XL Reinsurance

Underwriting Process

  • 30+ years track record
  • Proven, stable franchise
  • Global reach, local presence
  • 7,400+ employees
  • 100+ offices
  • Uniform view of risk
  • AXA combination further enhances franchise
AXA XL ILS Capital Management

Portfolio Management Process

  • Portfolio Construction & Management
  • Portfolio Modeling & Risk Analysis
  • Data Capture & Processing
  • Insurance Management
  • Finance Process & Investor Reporting
  • Investor Management and Communications