AXA to accelerate Brazil operations via acquisition of the P&C large commercial risks insurance subsidiary of SulAmérica

Today, AXA announced it has entered into an agreement with SulAmérica S.A. to acquire 100% of its Large Industrial and Commercial risks insurance subsidiary, SulAmérica Companhia de Seguros Gerais, for a total consideration of BRL 135 million (or Euro 40 million). The scope of the transaction includes Marine Hull, Marine Cargo and Property. AXA expects to integrate the acquired operations within AXA Corporate Solutions Brazil and Latin America ("AXA CS Brazil").