Exclusive: French insurer AXA considers selling up in Central Europe - sources

FILE PHOTO: A logo of insurer Axa is seen at the entrance of the company's headquarters in Brussels, Belgium March 5, 2018. REUTERS/Yves Herman/File Photo

WARSAW/FRANKFURT - French insurer AXA is considering selling its Central European business as part of a restructuring to quit markets where it lacks scale, three sources familiar with the situation said. AXA is undergoing a deep restructuring to help it cope with a negative interest rate environment and make the French group stronger on health and property and damage insurance.

AXA is now focusing on expanding in Asia, after its $15 billion acquisition of Bermuda-based insurer XL last year and its listing of U.S. life insurance and asset management unit AXA Equitable Holdings . “AXA plans to sell its businesses in Poland, the Czech Republic and Slovakia,” one person told Reuters, speaking on condition of anonymity, adding that “teasers”, or information packs, had been sent to potential investors.

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