French insurer Axa has signed a deal to sell its businesses in Greece to Italian competitor Generali for 165 million euros ($202.9 million) as part of its strategy to streamline activities to boost returns.
Axa, Europe’s second-biggest insurer behind Allianz , said it expects to close the transaction by the end the second quarter of next year.
($1 = 0.8134 euros)
Main Photo: Exterior view on the Belgium headquarters of AXA Bank and insurance group in Brussels, Belgium. EPA/OLIVIER HOSLET