Axa in Paris, announced today that it anticipates its net exposure from terrorists acts in the United States to accumulate to $550 million before taxes, updating previously released estimates in the $300-$400 million range.
The estimate is based on a more complete detailed review of the Group's life, property-casualty and reinsurance exposure, with $400 million coming from reinsurance business.
The remaining $150 million on primary insurance business is evenly split between life and property and casualty and aviation coverages, Axa said.
Axa also said that its gross reinsurance business exposure is $1 billion, adding that large, well-established reinsurance companies provided protection programs for Axa.
