AXA disengaged from the property insurance American market

The French insurer AXA has confirmed its disengagement from the American market of property insurance by yielding the local subsidiaries of Winterhur to the group QBE Insurance.

Following this move worth the total amount of 1.8 billion USD, AXA will restrict its operations in the United States to life and retirement insurance through its subsidiary AXA Financial which accounts for 22% of its overall business volume.