Axa is increasingly pulling out of its activities in Central and Eastern Europe

Magazine Issue:

Insurers facing the digital turning point [3]

Magazine date:

Jul 2016

Deemed unprofitable, the insurance market in Central and Eastern Europe no longer attracts the interest of AXA.

The French group has sold its insurance activities in life, Savings, retirement and non life in Serbia to its Austrian competitor Vienna Insurance Group. The amount of the transaction has not been disclosed yet.

The interest of AXA for this region has decreased in recent years.
The group has sold off its banking activities in the Czech Republic, Slovakia and Hungary.

It also separated from its life insurance operations and retirement savings in Hungary and tried, on two occasion, to give up its insurance business in Romania.

AXA has however strengthened its presence in Poland, one of the most attractive markets in the region, with the purchase of two insurance companies and the conclusion of bancassurance agreements.

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Wed, 13/07/2016 - 13:03

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[2] https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Faxa-is-increasingly-pulling-out-of-its-activities-in-central-and-eastern-europe&source=Atlas Magazine&mini=true
[3] https://www.atlas-mag.net/en/issue/insurers-facing-the-digital-turning-point
[4] http://www.atlas-mag.net/en/article/axa-and-chaucer-inaugurate-their-new-subsidiary
[5] http://www.atlas-mag.net/en/article/axa-made-an-acquisition-over-filipino-market
[6] http://www.atlas-mag.net/en/article/axa-gives-up-some-of-its-activities-in-the-uk