Insurance and investment giant AXA has completed the sale of its life & savings, property & casualty and pension businesses in Poland, Czech Republic and Slovakia to UNIQA Insurance Group for €1 billion.
UNIQA had been pegged as one of three bidders in the running to secure AXA’s Central and Eastern European operations after rumours of a deal emerged last October.
The Austria-based insurer had reportedly made it down to a shortlist with Assicurazioni Generali SpA and Vienna Insurance Group before securing the deal.
The completion of the transaction is expected to result in a positive impact of +2 points on AXA Group’s Solvency II ratio in the fourth quarter of 2020.
Upon announcing the deal earlier this year, AXA Chief Executive Thomas Buberl noted how it marks another step in the simplification of AXA’s footprint.
“We are convinced that AXA’s operations in Central and Eastern Europe will benefit from UNIQA’s strong presence and local expertise in the region to create new growth opportunities with a continued focus on delivering enhanced customer value propositions,” he said.
Source: Reinsurance News
Solera and Insurtech Insights: Expanding Global Impact Through AI, Sustainability, and Gender Diversity
In an era driven by innovation and social responsibility, Solera has emerged as a leader in transforming the insurance and mobility sectors. Through a strategic partnership with Insurtech Insights, the company has successfully expanded its global presence while promoting sustainability, artificial intelligence, and gender diversity.
Brown & Brown, Inc. Appoints Chief Operating Officer Steve Hearn as President of Retail Segment
Brown & Brown, Inc. has announced that Steve Hearn, the company’s Chief Operating Officer, has been appointed as President of the Retail segment. This move is described as a strategic step to ensure business continuity and sustained growth during a period of significant expansion.
Globee Awards for Innovation Recognize Vertafore for Making Insurance Distribution Simpler, Smarter and More Human
Vertafore, the leader in modern insurance technology, has been named Company of the Year in Insurance at the 2025 Globee Awards for Innovation. The recognition highlights Vertafore’s success in simplifying and automating insurance distribution, empowering agencies, Managing General Agents (MGAs), and carriers to focus on growth and client relationships.
