AXA has completed the sale of its Ukrainian units

20 February 2019 — Andrei Victor
The French insurer AXA Group announced it has successfully completed the deal with FAIRFAX Financial Holdings Limited (Canada) to sell its Ukrainian units - the non-life entity (AXA Insurance) and life entity (AXA Insurance Life) - both based in Kyiv, as the Paris-based insurer has said in a statement.

Earlier this year, the Unkrainian insurance market regulator - The National Commission for Financial Service Markets Regulation - approved the transaction, while the Antimonopoly Committee of Ukraine permitted to the Canadian Group - FFHL Group Ltd. to complete the deal.

AXA announced on 23 October it had entered into an agreement with FAIRFAX Financial Holdings Limited, through its subsidiary FFHL Group Ltd., to sell all its insurance operations in Ukraine and exit the Ukrainian market. (Read more)

In 2017, AXA Insurance ranked 3rd in the Ukrainian non-life insurance sector, with GWP of EUR 50.12 million and a 4.14% market share. AXA Insurance Life held the 9th position in the life insurance sector, with a 2% market share and GWP worth EUR 1.78 million.

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