AXA: to sell AXA Life Europe to Cinven

(CercleFinance.com) - AXA has received an offer from Cinven to buy AXA Life Europe (ALE).
The company expects to receive a total of 1,165 million euros in cash for ALE.

AXA Life Europe is a platform that is specialised in the design, production and distribution of AXA Variable Annuities products in Europe.

The platform has not generated any new business since 2017. It previously distributed its products in Europe through the AXA's entities (particularly in Germany, France, the UK, Spain, Italy and Portugal) and external distribution channels. It also has a reinsurance agreement with AXA Japan.

German insurance contracts represent over 70% of ALE's portfolio.



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