AXA Group buys Romanian Omniasig Life

AXA Group gets Omniasig Life

In brief: AXA Group completes advantageous for both sides deal to buy Romanian company Omniasig Life.

French insurance group AXA announced the completion of procedures relating to the purchase of the Romanian insurance company Omniasig Life. According to a press release the group, as a result of this transaction AXA has 100% stake in Romanian insurer.

Exit on the Romanian life insurance market gives us an additional opportunity to develop business in Central and Eastern Europe “, – press service quoted the executive director of AXA in the region of Central and Eastern Europe, Cyrille de Montgolfe. The team believes that the Romanian market with its low level of insurance penetration (the ratio of collected premiums to GDP), compared with other countries of the European Union, AXA offers considerable growth potential.

Ukrainian Globalist
2010-07-06 17:00, Commodities.

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