he specialist run-off acquirer and manager AXA Liabilities Managers acquired a majority stake in Emirates Re, once the largest independent international Islamic reinsurer. Financial terms were not disclosed. “We are very pleased to have finalized this significant acquisition on a new market in a very short timeframe. The regulatory approval went smoothly, which demonstrates AXA LM’s credibility as an acquirer on the international run-off market.” Sylvain Villeroy de Galhau, CEO – AXA Liabilities Managers