China: AXA completes acquisition of AXA Tianping

AXAAnnounced in November 2018, the acquisition of the remaining 50% of AXA Tianping's capital has recently been completed. The transaction amounted to almost 600 million EUR (668.31 million USD).

The French group controls henceforth 100% of AXA Tianping's capital. This acquisition allows AXA to benefit from the strong growth of the property and casualty (P&C) insurance market in China. With a turnover of 1.08 billion EUR (1.2 billion USD) in 2017, AXA Tianping ranked fifteenth on the Chinese P&C insurance market.

Read also | Partnership between European insurers and various Chinese companies

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