Axa transfers £600m historical liability book to Riverstone

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It is transferring all its UK employers’ liability and public liability policies issued to 1 January 2002. And the disease claims related to policies issued between that date and 31 December 2014 will be reinsured by Riverstone. This includes mesothelioma, noise-induced hearing loss and other industrial related diseases covering reserves of approximately £600m. Subject to regulatory approvals, the deal is expected to conclude during the next 12 to 18 months. “Our decision to transfer the liab