(AOF) – Axa has entered into a share buyback agreement with an investment services provider under which the insurer undertakes to buy back its own shares for a maximum amount of 1.6 billion euros. This amount includes the share buyback of 1.1 billion euros, in accordance with the new capital management policy, as announced on February 22, and the anti-dilutive share buyback amounting to 0 .5 billion euros following the reinsurance agreement for a life insurance portfolio at Axa France. It was announced on December 20.
Under the terms of this agreement, the share repurchase is expected to begin on February 26, 2024 and end no later than August 5, 2024. For each day of the repurchase period, the price per share to be paid by the insurer will be determined based on the volume-weighted average share price.
Axa has confirmed its intention to cancel all shares repurchased under this share buyback program.
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