April cedes Axeria to Watford

BusinessApril, a French company that designs, manages and distributes insurance solutions and assistance services, sells its property and casualty business, Axeria IARD, to Bermuda-based Watford. This transaction is yet to be regulated by the authorities.

Axeria's head office will remain in France. No rebranding is currently planned. Axeria IARD is the second subsidiary, after April International Voyages, to be sold by the French broker weakened by persistently low interest rates.

Read also | Allianz reacts to alarming rates

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