AXA agrees with Uniqa to sell CEE business for 1 billion euros

  • 📰 Reuters
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

France's AXA said on Friday it had agreed with Austrian insurer Uniqa to se...

AXA is quitting markets where it lacks scale as part of a deep restructuring to cope with a negative interest rate environment.

The sale would help improve AXA’s solvency ratio by 2 points, the insurer said, adding that it did not expect any significant impact on its net income from the sale. Uniqa said in a separate statement it planned to finance the acquisition via borrowing rather than a capital increase. It expects the solvency-capital ratio to be in the upper third of its target corridor of 155% to 190% after the deal is completed.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Casper starts trading at $14.50 per share in market debut, after pricing IPO at $12Casper at one point, as a private business, was valued at $1.1 billion, giving it so-called unicorn status. Cowherd said these are the best mattresses 😛
Source: CNBC - 🏆 12. / 72 Read more »