AXA has completed the acquisition of 50% of Tian Ping

AXA announced today that it has completed the acquisition of 50% of Tian Ping Auto Insurance Company Limited ("Tian Ping"). AXA bought 33% of the company from Tian Ping's current shareholders for RMB 1.9 billion (or Euro 240 million) and subsequently subscribed to a capital increase for RMB 2.0 billion (or Euro 251 million) to support future growth, raising its stake to 50%.