AXA €191 million acquisition of Ageas

Overview:

• Belgian insurer Ageas completed the acquisition of French insurer AXA's Portuguese operations for €190.8 million. 
• The deal was announced in August 2015, and closed following regulatory approval. 
• The acquisition included a 99.7% stake in AXA Portugal Companhia de Seguros, a 100% stake in AXA Portugal Companhia de Seguros, and the insurance portfolio held by the Portuguese branch of AXA Global Direct Seguros y Reaseguros. 
• The transaction was a combination of shares and assets. 
• The transaction makes Ageas the second largest insurer in Portugal by premiums, the third non-life insurer and the third largest life insurer.

John Crabb - Journalist