AXA has completed the sale of its operations(1) in Central and Eastern Europe
for Euro 1.0 billion
AXA announced today that it has completed the sale of its Life & Savings,
Property & Casualty and Pension businesses in Poland, Czech Republic and
Slovakia to UNIQA Insurance Group AG ("UNIQA"), for a total cash consideration
of Euro 1.0 billion.
The completion of the transaction is expected to result in a positive impact of
+2 points on AXA Group's
Solvency II ratio in 4Q20.
ABOUT THE AXA GROUP
The AXA Group is a worldwide leader in insurance and asset management, with
160,000 empl oyees serving 108 million clients in 57 countries. In 2019, IFRS
revenues amounted to Euro 103.5 billion and underlying earnings to Euro 6.5
billion. AXA had Euro 969 billion in assets under managemen t as of December
The AXA ordinary share is listed on compartment A of Euronext Paris under the
ticker symbol CS (ISN FR 0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA).
AXA's American Depository Share is also quoted on the OTC QX platform under the
ticker symbol AXAHY.
The AXA Group is included in the main international SRI indexes, such as Dow
Jones Sustainability Index (DJSI) and FTSE4GOOD.
It is a founding member of the UN Environment Programme's Finance Initiative
(UNEP FI) Principles for Sustainable Insurance and a signatory of the UN
Principles for Responsible Investment.
This press release and the regulated information made public by AXA pursuant to
article L. 451-1-2 of the French Monetary and Financial Code and articles 222-1
et seq. of the Autorité des marchés financiers' General Regulation are
available on the AXA Group website (axa.com).
THIS PRESS RELEASE IS AVAILABLE ON THE AXA GROUP WEBSITE axa.com
IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING
Certain statements contained herein may be forward-looking statements
including, but not limited to, statements that are predictions of or indicate
future events, trends, plans, expectations or objectives. Undue reliance should
not be placed on such statements because, by their nature, they are subject to
known and unknown risks and uncertainties and can be affected by other factors
that could cause AXA's actual results to differ materially from those expressed
or implied in such forward looking statements. Please refer to Part 4 - "Risk
Factors and Risk Management" of AXA's Universal Registration Document for the
year ended December 31, 2019 (the "2019 Universal Registration Document") and
"Operating Highlights - Risk Factors" on page 12 of AXA's half-year financial
report as of June 30, 2020 (the "Half-Year 2020 Financial Report"), for a
description of certain important factors, risks and uncertainties that may
affect AXA's business and/or results of operations, particularly in respect of
the Covid-19 crisis. AXA undertakes no obligation to publicly update or revise
any of these forward-looking statements, whether to reflect new information,
future events or circumstances or otherwise, except as required by applicable
laws and regulations.
(1) Includes AXA Ubezpieczenia Towarzystwo Ubezpieczeń i
Reasekuracji S.A.(P&C business), AXA Życie Towarzystwo Ubezpieczeń
S.A. (L&S business) and AXA Powszechne Towarzystwo Emerytalne S.A.
(Pension business) in Poland, and AXA pojiťovna a.s. (P&C business),
AXA ivotni pojiťovna a.s (L&S business) and AXA penzijni společnost
a.s. (Pension business) in Czech Republic, together with their
subsidiaries and branche s in Slovakia. AXA XL's and AXA Partners'
operations within the three countries are not within the scope of