AXA Group (France) has successfully completed the deal with Fairfax Financial Holdings Limited (Fairfax, Canada) to sell its subsidiaries in Ukraine – private joint-stock company AXA Insurance and AXA Life Insurance double liability company (both based in Kyiv), AXA has said in a press release. As reported, The National Commission for Financial Service Markets Regulation in resolution issued on January 10, 2019 approved the indirect holding of 99.98% shares in private joint-stock company AXA Insurance and 100% of double liability company AXA Life Insurance. The commission also allowed FFHL Group Ltd. (Canada) to directly hold 99.9989% shares in AXA Life Insurance.
Earlier the Antimonopoly Committee of Ukraine permitted FFHL Group Ltd. to complete the deal.
AXA Group (France) on October 23, 2018 announced the sale of 100% of AXA Insurance and AXA Life Insurance to Fairfax Financial Holdings Limited.
Fairfax, headquartered in Toronto (Canada), is a financial services holding company that through a network of its own companies provides investment management, property and liability insurance, and reinsurance. In February 2015, Fairfax announced the purchase of 100% in QBE Ukraine insurance company, later renaming the company as Colonnade Ukraine.
AXA Insurance has been operating on the Ukrainian market since 2007. AXA Life Insurance was registered in July 2013.
