Axa sells insurance arm in Singapore for $575m

Mark Battersby
clock • 1 min read

French headquartered Axa has agreed to sell its Singapore insurance business to the HSBC banking group.  Under the terms of the agreement, Axa will sell Axa Singapore for a total cash consideration of $575m. Gordon Watson, chief executive Asia and Africa said: "This transaction is another step in AXA's simplification journey. In line with the Group's strategy, we are focusing on our core markets where we have the size, presence in the right business segments and a strong potential to grow. We have in Asia a unique set of assets across established and high potential markets where we...

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