The French insurance company AXA has sold its Eastern European branch to the Austrian Uniqa group. The acquisition involves around 1 billion euros.
The acquisition will add about 5 million customers and 2,100 employees to Poland, the Czech Republic and Slovakia. The company sees the countries as growth markets and hopes to grow further here in the coming years.
The Viennese insurance company has been working for some time to strengthen its position on the European market. Uniqa is currently – with a market share of almost 50 percent – the largest insurer in Austria. In recent years it has already taken over several other companies, in particular Central and Eastern Europe.
In 2018, Uniqa generated a turnover of more than 5 billion euros, while the French AXA achieved around 100 billion in the same year.
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