AXA to sell Winterthur US property & casualty operations to QBE Insurance Group for a total consideration of US$1.8 billion

AXA announced today it has reached an agreement with QBE Insurance Group for the sale of Winterthur's US operations for US$1,156 million (Euro 920 million). In addition, Winterthur US will repay US$636 million (Euro 506 million) of inter-company loans to Winterthur Group.