AXA acquires the Swiss insurer Winterthur

The French group AXA has bought out the Swiss insurer, Winterthur, from Crédit Suisse for 9.8 billion USD to which 1.2 billion USD are added for the debt refunding. With a combined turnover of 113.8 billion USD, this move is likely to boost the AXA Group to the number one position in European insurance, consolidate its position in Switzerland and enlarge its distribution network throughout Europe and the Asian markets.