AXA announced it has entered into an agreement with Vienna Insurance Group to sell both its Life & Savings and Property & Casualty operations in Serbia and exit the Serbian market.
Under the terms of the agreement, Vienna Insurance Group AG will acquire 100 percent of the life (AXA Životno osiguranje Ado) and non-life (AXA Neživotno osiguranje Ado) entities.
The parties agreed not to disclose the terms and conditions of the transaction.
Completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals.
Source: AXA
Topics Property Casualty
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