AXA to Sell its Operations in Ukraine

AXA announced today it had entered into an agreement with Fairfax Financial Holdings Limited to sell all its insurance operations in Ukraine and exit the Ukrainian market. Under the terms of the agreement, Fairfax would acquire 100% of the non-life entity (AXA Insurance*) and the life entity (AXA Insurance Life) in Ukraine.

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

* AXA Insurance in Ukraine is a joint venture between AXA (50% shareholding) and Ukrsibbank.