The French group Axa announced on Monday that it had finalized the sale of its insurance activities in Greece, its Italian counterpart Generali, for 167 million euros.
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The transaction, announced at the end of December and which is part of its simplification strategy, concerns life, savings and damage activities, specifies Axa in a short press release.
Axa Grce had some 250 employees with a diversified distribution network, consisting in particular of a bancassurance partnership with the Greek establishment Alpha Bank and direct distribution channels.
Its operating profit reached 15million euros in 2019, for a turnover of 168million euros.
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