Canadian Fairfax paid $ 16.24 million for AXA Insurance

Canadian Fairfax paid $ 16.24 million for AXA Insurance

AXA Group (France) completed a transaction of sale of its Ukrainian subsidiaries PJSC Insurance Company AXA Insurance and ALC Insurance Company AHA Life Insurance

Fairfax Financial Holdings Limited Group LTD (FFHL Group LTD, Canada) bought 99.98% of the share capital of the insurance company AXA Insurance (Kiev). It is noted that the Canadian company has acquired more than 26 million shares of the insurer with a nominal value of 10 UAH. each at a price of $ 0.62 (UAH 16.55).

IC "AXA Insurance" works in the Ukrainian market since 2007. Its staff is more than 780 people. The insurer's agents are another 1.22 thousand people across the country. At the end of 2018, the company collected 1.9 billion UAH. insurance premiums, which is 13% higher than a year earlier.

AXA Life Insurance, in turn, was created in 2013. Last year, the volume of premiums collected by it amounted to 93 million UAH, which is 57% higher than in 2017.

Fairfax Financial Holdings Limited is an international holding company with headquarters in Toronto. Fairfax has been specializing in insurance, reinsurance and investment management since 1985. The company's investment portfolio is $ 39.4 billion, total assets - $ 65.1 billion, and total share capital - $ 18.4 billion.

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