AXA has completed the sale of its insurance operations in the Gulf region*

AXA announced today that it has completed the sale of its 50% shareholding in AXA Gulf and its 34% shareholding in AXA Cooperative Insurance Company (in Saudi Arabia) to Gulf Insurance Group, for a cash consideration of USD 264 million (or Euro 222 million*).

The sale of AXA’s 28% shareholding in AXA Green Crescent Insurance Company (in UAE), representing cash consideration of USD 5 million (or Euro 4 million*), has received required regulatory approvals and is also expected to close shortly.

(*) - please download document for full reference