Key Developments: AXA SA (AXAHY.PK)

AXAHY.PK on OTC Markets Group

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1 Sep 2015
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Latest Key Developments (Source: Significant Developments)

Ageas announces exclusive negotiations to acquire AXA SA insurance operations in Portugal
Friday, 7 Aug 2015 02:00am EDT 

Ageas SA:Announces exclusive negotiations to acquire AXA's insurance operations in Portugal.Confirms exclusive negotiations and intention to acquire AXA's share in its Portuguese insurance operations for a total consideration of 190.8 million euros.Transaction should be finalised in first half of 2016.  Full Article

Axa confirms FY 2015 financial guidance
Tuesday, 4 Aug 2015 01:00am EDT 

Axa SA:CEO Harlin said the group is confident it will achieve its FY2015 targets in its strategic plan and had completed 1.8 billion euros of the 1.9 billion in cost savings planned for this year.  Full Article

Genworth Financial Inc enters into exclusive negotiations with AXA SA to sell Lifestyle Protection Insurance business
Wednesday, 22 Jul 2015 02:45am EDT 

Genworth Financial Inc:Says that it has entered into exclusive negotiations with AXA SA after receiving an irrevocable offer to purchase its lifestyle protection insurance business.Expects to accept offer and execute an associated purchase agreement upon completion of French works council consultation process.Says sale price is expected to be about $510 million and the company will record an after-tax loss of about $310 million in the second quarter of 2015 related to expected sale and pension settlement costs.Says net proceeds from transaction, net of pension settlement costs and transaction related expenses, are estimated to be about $400 million.Says Genworth plans to use these proceeds to advance compliance with Private Mortgage Insurer Eligibility Requirements and to reduce debt levels.Says sale is expected to close by end of 2015 and is subject to other customary conditions, including requisite regulatory approvals.Barclays and Sidley Austin LLP are advising Genworth on this transaction.  Full Article

Axa announces partnership with CIB in Egypt
Sunday, 12 Jul 2015 10:40am EDT 

Axa SA:Announces a partnership with the Commercial International Bank (CIB) in Egypt.Says entered into a 10-year Life & Savings exclusive bancassurance agreement with CIB.As part of the partnership, AXA is to acquire 100 pct of Commercial International Life (CIL), the Life & Savings joint-venture between CIB (45 pct) and Legal & General (55 pct) in Egypt.Says the acquisition of CIL is for a consideration of approximately 88 million euros.  Full Article

Axa Global Life places 285 mln euro bonds
Tuesday, 28 Apr 2015 02:36am EDT 

Axa SA:Says AXA Global Life announces successful placement of 285 million euros of bonds to protect the group against extreme events in life.Two different classes of notes are placed with scheduled maturity in January 2020.Class A notes are placed for amount of 135 million euros and class B notes are placed for amount of 150 million euros.  Full Article

Axa to increase stake in Indian insurance joint-ventures with Bharti Enterprises
Thursday, 12 Mar 2015 02:29pm EDT 

Axa SA:Confirms its intention to increase its stake in its Indian insurance joint-ventures with Bharti Enterprises to 49 pct from 26 pct.  Full Article

Axa SA proposes FY 2014 dividend
Wednesday, 25 Feb 2015 01:00am EST 

Axa SA:Proposes FY 2014 dividend of 0.95 euros per share, up 17 pct.  Full Article

Axa SA expands global employee benefits footprint with entry into US Market
Monday, 23 Feb 2015 12:19pm EST 

Axa SA:Says it is further extending its footprint into the United States with the launch of its U.S. Employee Benefits business, through subsidiaries AXA Equitable Life Insurance Company and MONY Life Insurance Company of America.Says this market entry builds on AXA S.A.'s expertise as a leading employee benefits insurer around the world, where it protects more than a million employees.AXA S.A. will apply this knowledge and experience as it develops its U.S. offering - a suite of benefits products scheduled to begin rollout in mid-2015, including group life insurance, dental and vision, short- and long-term disability, gap medical and hospital indemnity, and critical illness.  Full Article

Axa to acquire 7 pct of Africa Re
Friday, 20 Feb 2015 11:45am EST 

Axa SA:Says it has entered into an agreement to acquire a 7.15 pct stake in African Reinsurance Corporation (“Africa Re”).Total cash consideration payable at closing would amount to $61 million.  Full Article

Axa to sell its Romanian operations
Thursday, 18 Dec 2014 02:31am EST 

Axa SA:Says it has entered into an agreement with Certinvest and SIF Transilvania to sell its Life & Savings insurance operations in Romania and exit the Romanian market.Under the terms of the agreement, Certinvest would acquire a stake of 70 pct in AXA’s Romanian subsidiary, AXA Life Insurance S.A.SIF Transilvania would acquire the remaining stake of 30 pct.The parties agreed not to disclose the terms and conditions of the transaction.  Full Article

BRIEF-Ageas announces exclusive negotiations to acquire AXA's insurance operations in Portugal

* Announces exclusive negotiations to acquire AXA's insurance operations in Portugal

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