Axa completes Winterthur purchase
Axa has completed its $311 million purchase of Winterthur’s Hong Kong division, adding premiums of about $417 million to its expanding Asia book.
The Winterthur purchase, announced in December last year, is part of Axa’s push into rapidly expanding Asian markets – in particular Hong Kong, now an important revenue source for the public entity.
Winterthur will provide even more bulk to Axa Asia’s market share of new insurance business in Hong Kong by about 3%. It joins National Australia Bank’s MLC insurance businesses in Hong Kong and Indonesia, which Axa acquired for $575 million.
Winterthur Life has about 160 financial consultants and 240 agents.
The Winterthur purchase, announced in December last year, is part of Axa’s push into rapidly expanding Asian markets – in particular Hong Kong, now an important revenue source for the public entity.
Winterthur will provide even more bulk to Axa Asia’s market share of new insurance business in Hong Kong by about 3%. It joins National Australia Bank’s MLC insurance businesses in Hong Kong and Indonesia, which Axa acquired for $575 million.
Winterthur Life has about 160 financial consultants and 240 agents.