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Axa Group News

25 Feb 2021

Report: Baker Hughes, 17 Other Firms Quit Nord Stream 2 Pipeline Project to Avoid Sanctions

Baker Hughes Co and AXA Group and 16 other companies recently quit work on Russia’s Nord Stream 2 natural gas pipeline and will not be sanctioned, according to a document the Biden administration sent to Congress last week which was seen by Reuters.Russian energy company Gazprom and its western partners are racing to build the pipeline to take Russian gas to Germany under the Baltic Sea, and hope to finish it this year. President Joe Biden believes the pipeline is a “bad deal” for Europe.Many U.S. lawmakers and officials say the pipeline would increase Russia’s political and economic leverage over Europe. The $11 billion pipeline, which would double the capacity of its existing duct, would bypass Ukraine through which Russia has sent gas to Europe for decades.

02 Nov 2007

Sinopacific Shipbuilding Plans Shanghai Listing

Sinopacific Shipbuilding Group Co. Ltd. plans to list on the Shanghai Stock Exchange in June 2008, raising about $670.6m, a source close to the matter told XFN-Asia. The source said the company has filed its listing application with the securities regulator, with CITIC Securities expected to underwrite the issue. In addition, the company also plans to introduce AXA Group and Bank of China International (BOCI) as strategic investors, the source added. [Source: http://www.forbes.com]

12 Apr 2007

AXA Posts Growth in Marine and Aviation Business

The marine and aviation division of AXA Corporate Solutions continued to make substantial progress and grow market share in 2006, the Paris headquarters reports. AXA Corporate Solutions, the specialized lines insurer within the giant AXA Group, showed a 5% growth in turnover, reaching €1.689 billion in 2006, while keeping its combined ratio at 100%. The company is one of the players in marine insurance. In 2006, 22 percent of its marine business came from French clients and 78 percent from the rest of the world. Major renewals of programs at the beginning of this year were secured. In the U.K., cargo insurance is growing rapidly under an initiative to target high-end U.K. clients, and several big multinational accounts have been won.