Axa takes over B&B Insurance

Axa continues its expansion in Eastern Europe. The French insurer has taken over 80% of B&B Insurance at a price undisclosed so far. B&B is the second larg-est insurer in the country but the first in the private sector.
Exclusively operating in non-life insurance, B&B has a market share of 10% and sometimes 20% or even 40% depending on the types of warranties. The French group believes that the Belarusian market has great potential as less than 15% of households have a householder's insurance and less than 20% of motorists are covered.