AXA to cede its life insurance activities in the United States

AXA announced on 8 November 2019 the final cession of its financial activities (life insurance, asset management) in the United States. The French group sold 144 million common shares of AXA Equitable Holdings (EQH) to Goldman Sachs, an American investment bank.

The transaction amounted to 3.1 billion USD. The insurer estimates that this transaction would have a positive impact of 6 points on AXA's solvency ratio 2 but no significant effect on its net result. However, the group retains its activities related to the health, pension and corporate P&C insurance in the United States.

This strategy is reinforced by the acquisition, in March 2018, of the Bermuda group XL, a major player in corporate P&C insurance and reinsurance.

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