AXA enters into exclusivity for the potential acquisition of Genworth Lifestyle Protection Insurance
- download
Press Release
PDF 349.3 KB
- press contacts
July 22, 2015
published at 2:00 AM CEST
- This acquisition would be a milestone in the development of AXA credit and lifestyle protection activities, currently operated by AXA Creditor, to accelerate AXA's business mix shift towards more Protection-based products, in line with the Ambition AXA strategy.
- Combined operations would rank #3 within the creditor insurance market in Europe, with 9% market share, and would create a European leader in credit and lifestyle protection.
- Total consideration would amount to Euro 475 million, representing an implied 0.65x book value multiple as of end of FY14.
Contacts
Investor Relations
Investor Relations team
Media relations
Axa Media Relations