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AXA has completed the sale of its insurance operations* in Singapore


Press Release

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February 11, 2022

published at 6:00 AM CET

AXA announced today that it has completed the sale of AXA Insurance Pte Ltd (“AXA Singapore”) to HSBC Insurance (Asia-Pacific) Holdings Ltd** (“HSBC”), for a total cash consideration of USD 529 million*** (or Euro 463 million****).

* Operations in Singapore related to AXA XL, AXA France, AXA Partners, MAXIS and AXA Global Healthcare are not within the scope of this transaction.

** A wholly owned subsidiary of the Hongkong and Shanghai Banking Corporation Limited.

*** Including a price adjustment reflecting customary closing conditions.

**** 1 Euro = USD 1.1425 as of February 9th, 2022 (Source: Bloomberg).


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