PARIS, December 31 (Reuters) – The insurer Axa announced on Friday that it had completed the sale of its subsidiary Axa Banque Belgique to the Belgian cooperative bank Crelan for 691 million euros.
The number two insurance in Europe, after the German Allianz, also indicates in a press release that it has entered into a distribution agreement with Crelan for non-life insurance and provident insurance products.
This agreement will be effective from January 1, 2022, adds Axa.
“The finalization of this transaction marks a new step in the further streamlining of Axa’s profile,” said Thomas Buberl, the group’s CEO.
Since taking over as CEO of Axa in September 2016, Thomas Buberl has launched a vast program to restructure and rationalize the activities of the insurance group, notably with the sale of assets in certain countries and in certain markets. in order to increase its profitability.
(Report Matthieu Protard)