Axa is taking control of a life insurer in Romania

By gaining control of Omniasig Life, Axa has set foot in life insurance in Rumania. The French insurer estimates that this market has very promising potential. Set up in 1997, the company has specialized in the distribution of employees' benefits insurance. Today, it has a network of 1400 agents. Its premium volume has reached 12 million EUR (16.9 million USD) in 2008. The move has to be approved by the regulatory authorities by the end of the first semester of 2010.