AXA takes 40 mln eur hit on Hungary sale

PARIS Mon Dec 23, 2013 12:24pm EST

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PARIS Dec 23 (Reuters) - French insurer AXA said it agreed to sell its life and savings operations in Hungary to Vienna Insurance Group in a deal that will see it take a 40 million euro ($54.8 million) hit to full-year net income.

AXA said it would continue to have banking operations in Hungary following the transaction, which is subject to regulatory approval. ($1 = 0.7296 euros) (Reporting by James Regan)