France’s Axa signs deal to sell Greek businesses to Generali

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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

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