AXA to Acquire 51% of Colpatria's Insurance Operations and Enter the Colombian Market
- Total consideration of Euro 259 million
- AXA has the opportunity to enter the fast-growing Colombian insurance market and strengthen its position in Latin America, in line with its Ambition AXA strategy
- AXA would become the #4 insurance player and the #2 Property & Casualty player in Colombia
AXA announced today it has entered into an agreement with Grupo Mercantil Colpatria to acquire a 51% stake in its composite insurance operations in Colombia ("Colpatria Seguros") for a total consideration of COP 672 billion (or Euro 259 million). AXA expects to consolidate the acquired operations within its Mediterranean & Latin American Region.