AXA sells its Greek subsidiary to Generali

The insurer sells its life and savings activities and its non-life activities in Greece to the Italian group for 165 million euros. The operation is part of its simplification strategy.

AXA's Greek subsidiary has 600,000 customers.

A few hours before the effective closing of its strategic plan “Ambition 2020”, which provided for a series of disposals, AXA announced Thursday the sale of its Greek activities to Generali.

The group chaired by Thomas Buberl sells its life and savings activities and its non-life activities in Greece to the Italian group for 165 million euros. They were valued at 120 million in its balance sheet.