‘Axa in advanced talks on XL buy’

PARIS: Axa SA is in advanced talks to buy XL Group Ltd, a property and casualty insurer with a market value of US$11 billion (RM43.2 billion), people familiar with the matter said. A deal could be announced in coming days, said the people. A final deal hasn’t been reached and another bidder may yet emerge or talks may fall apart, the people said. Buying XL would bolster Axa’s casualty coverage business in the US, and mark the biggest insurance deal since 2015, according to Bloomberg data.