AXA to sell its Romanian operations

AXA announced yesterday it has entered into an agreement with Astra Insurance to sell its life and savings insurance operations in Romania and exit the local market, according to a press release. Astra Insurance is one of the largest insurance groups in Romania. The parties agreed not to disclose the terms and conditions of the transaction. The completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals.

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