AXA to sell its operations in Ukraine

AXA announced today it had entered into an agreement with Fairfax Financial Holdings Limited* (“Fairfax”) to sell all its insurance operations in Ukraine and exit the Ukrainian market. Under the terms of the agreement, Fairfax would acquire 100% of the non-life entity (AXA Insurance*) and the life entity (AXA Insurance Life) in Ukraine.

Completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals.

*through its subsidiary FFHL Group Ltd.

*AXA Insurance in Ukraine is a joint venture between AXA (50% shareholding) and Ukrsibbank.