BUSINESS NEWS

Canada’s Fairfax purchases AXA Group’s entire Ukrainian insurance business

Business Ukraine magazine
Friday, 02 November 2018 22:25

French insurance industry multinational AXA Group has announced the sale of its Ukrainian subsidiaries AXA Insurance and AXA Life Insurance to Canada’s Fairfax Financial Holdings Limited.

Toronto-based Fairfax already has a number of Ukraine-related investments including Colonnade insurance company and a 28.06% stake in Astarta Holding, the Netherlands-registered holding company of Ukraine’s Astarta agro-industrial group.

AXA Insurance is one of the largest insurance companies in Ukraine with over 780 employees and 1,220 agents across the country. The company recorded a 14% increase in insurance premiums in the first half of 2018. 

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