Axa is focusing on the fate of the Italian Fondiaria Sai

The insurer Fondiaria Sai, third Italian insurer detaining 20% of the non-life insurance market, is struggling. The Group has signed in late January an agreement leading to its takeover by Unipol, the insurer coming from the cooperative world. Axa, which dreams of becoming third Italian insurer, is studying the possibility of purchasing the assets that Fondiaria Sai will be compelled by the anti-trust authorities to give up. Axa could also be tempted to buy back the whole of Fondiaria Sai, even if that project seems unlikely today. Groupama failed to purchase this insurer in 2010.

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