AXA to sell its Serbian operations to Vienna Insurance Group

AXA announced today it had entered into an agreement with Vienna Insurance Group to sell both its Life & Savings and Property & Casualty operations in Serbia and exit the Serbian market. Under the terms of the agreement, Vienna Insurance Group AG would acquire 100% of the life (AXA Životno osiguranje Ado) and non-life (AXA Neživotno osiguranje Ado) entities.

The parties agreed not to disclose the terms and conditions of the transaction.

Completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals.