AXA completes acquisition of GACM España

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AXAThe acquisition of GACM España, a subsidiary of Groupe des Assurances Crédit Mutuel (GACM), by the AXA Group, announced in October 2022, was finalized on 12 July 2023.

The 310 million EUR (345.3 million USD) transaction will enable the French insurer to consolidate its presence in the Spanish property-casualty and health insurance markets.

For the record, GACM España has ended the year 2022 with a turnover of 400 million EUR (427 million USD) and a shareholders' equity of 300 million EUR (320.3 million USD). The solvency ratio stood at 272%.

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Mon, 17/07/2023 - 12:11
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