AXA acquired 100% of SulAmérica's large risks subsidiary

The French insurer AXA has finalised the acquisition of SulAmérica Companhia de Seguros Gerais, a subsidiary specializing in large industrial and commercial risks of the Brazilian insurance group SulAmérica.

The transaction, which amounted to 135 million BRL (45 milion USD) covers the marine and property damage insurance that recorded 220 million BRL (82 million USD) in 2014.

During the past two years, these two classes of business have reported an average annual growth of 12%.

Axa plans to integrate these operations within AXA Corporate Solutions Brazil and Latin America.