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GLRE - Pricing And Exposure Reduction Drive AXA XL Revenues Higher In Q1
Greenlight Reinsurance Ltd.
AXA Group's overall revenues rose by 2% on a comparable basis in the first quarter of the year, but AXA XL outpaced the rest of the business, with a 4% rise in revenue.
AXA XL has been leveraging its third-party reinsurance capital and insurance-linked securities related business to reduce catastrophe exposure in recent quarters.
Price increases were particularly strong, with 15% achieved in AXA XL's insurance division and 11% in reinsurance.