AXA lowers 2020 earnings guidance for disaster-related insurance business
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PARIS (Reuters) - French insurer AXA SA lowered 2020 profit guidance for its companies-focused XL unit and named a new chief executive for XL, as it stepped up measures to reduce exposure to risks stemming from natural disasters that become more frequent.Insurers are becoming increasingly concerned about the impact of bad weather linked to climate change, with an increase in wildfires in California among the most costly in recent years.AXA guided that earnings at the AXA XL unit, which is..