AXA: Towards a divestment of business in Central Europe

AXA plans to withdraw from several Central European markets. The French insurer is willing to sell its operations in Poland, the Czech Republic and Slovakia to other operators namely PZU, Allianz and Generali. These markets are considered unattractive and small-sized. The estimated amount of cessions ranges between 400 million and 800 million EUR (457 million and 915 million USD).

AXA has already ceased operations in Ukraine and placed its subsidiary AXA MBask Insurance Company in Azerbaijan into run-off. In return, the group's expansion strategy targets the so-called "high potential" markets such as Brazil, China, Indonesia, Mexico, the Philippines and Thailand.