AXA to Buy BRE Insurance from Poland's mBank
September 12 2014 - 5:08AM
Dow Jones News
By Inti Landauro
PARIS--French insurance group AXA SA (CS.FR) Friday said it
reached an agreement with Polish bank mBank SA (MBK.WA) to buy its
property and casualty insurance business BRE Insurance for about
136 million euros ($175 million) in a bid to expand in the Central
European country.
AXA also signed a 10-year partnership distribution agreement
with mBank, the French company said Friday in a statement.
The completion of the transaction depends on the approval of
regulators. AXA may pay up to an additional EUR7 million to mBank
so long as its unit reach certain targets.
-Write to Inti Landauro at inti.landauro@wsj.com
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