A loss of 68.1 million USD for AXA in Eastern Europe

AXA has completed the sale of its life operations, savings and pensions in Hungary announced in 2013.

Initially estimated at 54.5 million USD, the loss generated by these sales ultimately amounts to 68.1 million USD.

As a reminder, the French insurer has also initiated the sale of its life insurance business in Romania, but has not yet finalized it to date.

Henri de Castries, CEO of the group, had already stated in 2013 about these divestments that "policies in a few countries don't seem to be favorable neither to the growth nor to the development activities of long term."