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AXA increases its stake in Bharti and completes the acquisition of Genworth LPI and CIL

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Magazine Issue: 
Reinsurance, the race for size [3]
Magazine date: 
Nov 2015

AXA has announced an increase in its stake in the Bharti group. The French insurer has, henceforth, increased its stake in the Indian company from 26% to 49%. The cost of this increased stake is valued at 182 million EUR (205 million USD).

Alongside this transaction, AXA also said it has completed the acquisition of Genworth Lifestyle Protection Insurance (Genworth LPI). This investment valued at 465 million EUR (493 million USD), will enable it to become the third European insurer with a 9% market share.
In Egypt, AXA has completed the acquisition of a local insurer Commercial International Life (CIL). The announced cost of the transaction is 763 million EGP (98 million USD).

Tue, 08/12/2015 - 10:39

Source URL: https://www.atlas-mag.net/en/article/axa-increases-its-stake-in-bharti-and-completes-the-acquisition-of-genworth-lpi-and-cil

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