 In June 2015, AXIS and PartnerRe Ltd started a public campaign to convince shareholders of the positive aspects of a potential $13 billion merger between the two companies, with competition seen from Exor SpA, which bid $6.8 billion.In 2017 Axis Capital has completed its acquisition of Novae Group P.L.C and Aviabel S.A.In February 2020, AXIS Capital Holdings chairman of the board and co-founder Michael Butt announced his retirement after five decades in the insurance business.