Axa consolidates its position in Poland
Axa is taking control over Polish company Liberty Ubezpieczenia, a subsidiary company of Liberty Mutual Insurance Group. The transaction amounts to 23.5 million EUR (25.8 million USD). This move has been in the pipeline since December 2015.
Liberty Ubezpieczenia is a non life insurer whose turnover attained 75 million EUR (91 million USD) in 2014. This takeover enables the French group to raise its market share in the country from 3.2% to 4.4%.
In Poland, Axa has detained since March 2015 the non life company BRE Assurance which was ceded by mBank to the French giant.
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