Axa has exited the Serbian market following the completion of the dale of its property/casualty and life and savings businesses in the country to Vienna Insurance Group.
The deal, first announced in July, will see VIG acquire 100% of Axa Neživotno osiguranje, the property/casualty business, and Axa Životno osiguranje, the life and savings unit.
The two Axa companies generated more than €12m ($13.3m) in premiums last year, with a market share of roughly 1.8%. The range of products offered by the companies comprises casualty, motor, household and life insurance business.
The deal has taken Vienna Insurance’s market share in Serbia …
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