AXA to Sell Non-Life Operations in Azerbaijan

AXA announced it had entered into an agreement with Mr. Elkhan Garibli to sell all AXA’s insurance operations in Azerbaijan.

Under the terms of the agreement, Garibli would acquire 100% of the non-life entity (AXA MBask Insurance Company OJSC). 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