Insurance giant AXA to sell its Gulf business

Pedro Gonçalves
clock • 2 min read

AXA, Europe's second biggest insurer, has agreed to sell its insurance operations in the Gulf region to Gulf Insurance Group (GIG) for $269m. The deal includes the sale of the French insurer's 50% stake in AXA Gulf, a stake of 34% in Saudi Arabia-based AXA Cooperative Insurance, and a stake of 28% in the UAE-based AXA Green Crescent Insurance. AXA Gulf has operations across Bahrain, the UAE, Oman, and Qatar. As part of the transaction, Yusuf Bin Ahmed Kanoo, one of the largest conglo...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login