French insurer AXA has revealed plans to cease underwriting and renewing life and non-life reinsurance contracts through its US subsidiaries.

The move forms part of a bid to focus on its most profitable markets.

AXA said it would remain in the U.S. reinsurance market via its Paris-based AXA Re unit.

AXA Corporate Solutions, which has underwritten reinsurance for the company in the US, is being reorganised to focus on large risks insurance.

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