France, AXA leaves the tobacco industry

The insurer AXA has announced its withdrawal from the tobacco industry. This move should be implemented in two stages.

In a first step, the insurer plans to sell the shares he holds in the sector's companies and whose value is estimated at around 200 million EUR (223.67 million USD).

This measure should be accompanied by a gradual reduction in the company's portfolio of bonds issued by tobacco companies for a value of nearly 1.6 billion EUR (1.79 billion USD).