France’s AXA Group announced that it has completed the acquisition of 36.7 percent of the share capital of RESO GARANTIA, Russia’s second largest P&C insurer.
The transaction, which was announced on December 21, 2007, closed on June 17, 2008 (See IJ web site – https://www.insurancejournal.com/news/international/2007/12/27/85929.htm).
AXA also has an option to buy out the remaining shareholders “through calls exercisable in 2010 and 2011,” the company said, when the deal was announced. “AXA and RESO’s shareholders have also agreed to form a joint venture to develop an operation on Russia’s emerging life & savings market.
Source: AXA – www.axa.com
Topics Mergers & Acquisitions AXA XL
Was this article valuable?
Here are more articles you may enjoy.
California Insurance Commissioner Race Has Diverse Field Amid ‘Insurance Crisis’ 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
Lemonade Logs Q1 Net Loss With Topline Growth 
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
