AXA in talks with Genworth Financial for a possible acquisition of Genworth LPI

AXA starts talks with the European group specializing in loan insurance, Genworth Financial. Through these negociations, the French group plans to acquire Lifestyle Protection Insurance (Genworth LPI), Genworth Financial entity specializing in protection insurance. The transaction amount is estimated at 475 million EUR (516.25 million USD). The finalization of an agreement, by the end of 2015 would allow AXA to become the third European player in mortgage insurance, with a 9% market share.

As a reminder, Genworth LPI holds 4% of the European market for loan insurance. Its turnover in 2014, was 714 million EUR (867.96 million USD) for a net operating result of around 6 million EUR (7.29 million USD).