Axa finalizes the sale of its activities in the Gulf

AXA has finalized the sale of its 50% stake in AXA Gulf and its 34% stake in AXA Cooperative Insurance Company (Saudi Arabia) to the Kuwaiti group Gulf Insurance Group (GIG). The transaction amounts to 222 million EUR (264 million USD).

The French insurer has also obtained the approval of the competent authorities for the sale of its 28% stake in the capital of AXA Green Crescent Insurance Company (United Arab Emirates). The operation, worth 4 million EUR (4.7 million USD), should be finalized soon.