POLAND: KNF gives consent for UNIQA to take over Polish branches of AXA

28 September 2020 — Cosmin CONCEATU
During its meeting on September 17, 2020, the Polish Financial Supervision Authority approved the acquisition of AXA businesses from Poland by UNIQA Group.

The KNF meeting concluded that:
  • there are no grounds to object to the acquisition of AXA Ubezpieczenia shares with its registered office in Warsaw in the number ensuring the achievement of one-half of the total number of votes at the general meeting and one-second in the company's share capital directly by Uniqa Osterreich Versicherungen with its seat in Vienna and indirectly through Uniqa Insurance Group based in Vienna;
  • there were no grounds to object to the acquisition of AXA Zycie shares with its registered office in Warsaw in the number ensuring that one-half of the total number of votes at the general meeting and one-half in the share capital were exceeded directly by Uniqa Osterreich Versicherungen with its seat in Vienna and indirectly through Uniqa Insurance Group based in Vienna;
  • authorized the purchase by Uniqa Osterreich Versicherungen from Societe Beaujon of 100%. AXA PTE shares with its seat in Warsaw.


As both insurers emphasize, the decision of the KNF is another step that brings AXA and Uniqa in Poland closer to joining the top Polish insurance market.

Source: knf.gov.pl

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