AXA sells its operations in Central and Eastern Europe for €1bn

Pedro Gonçalves
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AXA sells its operations in Central and Eastern Europe for €1bn

French insurance company AXA has entered into a deal to sell its operations in Poland, Czech Republic and Slovakia to UNIQA Insurance Group for €1bn. Under the terms of the agreement with UNIQA, AXA will sell 100% of its Life & Savings, Property & Casualty and Pension businesses in Central and Eastern Europe. The purchase price of €1.002bn represents an implied 12.4x 2019E P/E multiple, and is expected to boost AXA's Solvency II ratio by 2 points. AXA CEO Thomas Buberl said: "This trans...

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