(CercleFinance.com) – AXA indicates that it has entered into a share repurchase agreement with an investment services provider (PSI) under which the insurance group undertakes to repurchase its own shares for a maximum amount of 1.6 billion euros.
This program reflects its new capital management policy announced on February 22, for 1.1 billion euros, and the reinsurance agreement for a life insurance portfolio at AXA France announced on December 20, 2023, for 0.5 billion.
According to the terms of the agreement, the share buyback is scheduled to begin on February 26 and end no later than August 5. AXA confirms its intention to cancel all shares repurchased under this program.