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AXA has completed the sale of its Portuguese operations

Apr 1, 2016

AXA announced today that it had completed the sale of its Portuguese operations to Ageas, including in particular its entire stake in AXA Portugal Companhia de Seguros SA (“P&C Business”), AXA Portugal Companhia de Seguros de Vida SA (“Life & Savings Business”) as well as AXA Global Direct Seguros y Reaseguros, the Portuguese branch of its direct operations (“Direct Business”). The total cash consideration amounted to Euro 189 million.

AXA recorded an exceptional positive impact of Euro 0.1 billion, which will be accounted for in Net Income in 1H16.

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