Major insurance group AXA is reportedly considering selling its reinsurance business XL Re.

Citing people familiar with the matter, Reuters said the insurer is looking to reduce its natural disasters exposure and has been holding preliminary discussions on possible options for the reinsurance unit.

Aside from a prospective private sale, a stock market listing is also potentially on the table, the news agency reported. Declining to comment, AXA has neither confirmed nor denied the divestment possibility.

Meanwhile, elsewhere in the business, AXA has completed its acquisition of Spanish property & casualty and health insurer Groupe Assurances du Crédit Mutuel España. Exclusive negotiations were first announced last October.

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