Conyers advises AXA on US$15.3 billion agreement to acquire XL Group

Conyers advises AXA in connection with an agreement to acquire 100% of Bermuda-based XL Group Ltd (NYSE: XL), a leading global property and casualty commercial lines insurer and reinsurer, for a total consideration of US$15.3 billion, to be fully paid in cash. Completion of the transaction, which was unanimously approved by the boards of AXA and XL Group, is subject to approval by XL Group shareholders and other customary closing conditions, including the receipt of required regulatory approvals, and is expected to take place during the second half of 2018.

Director Chris Garrod and Associate Jacqueline King of Conyers’ Bermuda Office advised on the matter.