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China: AXA completes acquisition of AXA Tianping

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Magazine Issue: 
Alarm over the European Insurance [3]
Magazine date: 
Dec 2019

AXAAnnounced in November 2018, the acquisition of the remaining 50% of AXA Tianping's capital has recently been completed. The transaction amounted to almost 600 million EUR (668.31 million USD).

The French group controls henceforth 100% of AXA Tianping's capital. This acquisition allows AXA to benefit from the strong growth of the property and casualty (P&C) insurance market in China. With a turnover of 1.08 billion EUR (1.2 billion USD) in 2017, AXA Tianping ranked fifteenth on the Chinese P&C insurance market.

Read also | Partnership between European insurers and various Chinese companies [4]

Tue, 31/12/2019 - 16:13

Source URL: https://www.atlas-mag.net/en/article/china-axa-completes-acquisition-of-axa-tianping

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