UNIQA to acquire AXA operations in CEE region for $1.1 billionChristian Fernsby ▼ | February 10, 2020
Austrian insurer UNIQA has agreed to acquire France-based insurance firm AXA’s operations in Poland, Czech Republic and Slovakia for €1bn ($1.1bn).
Acquisition UNIQA insurer
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UNIQA CEO Andreas Brandstetter said: “We have been aware of the AXA companies for a long time; they are an excellent fit with our long-term strategy.
“Their strong focus on profitable retail business and balanced product mix complement our existing business and make us the number five in the growing Central and Eastern Europe region.”
The acquisition of AXA operation will enable UNIQA to gain 5 million new customers, 2,100 employees and €800m in premiums. The deal is part of UNIQA’s plan to expand its presence in existing markets. ■