The French AXA Group sold 100% shares of insurance companies AXA Insurance and AXA Life Insurance to Fairfax Financial Holdings Limited (Canada), according to the press release of the group, Interfax-Ukraine reports.
It should be noted that Fairfax, headquartered in Toronto (Canada), is the holding company, providing financial services, which, through the network of own companies, provides investment management, property and liability insurance, reinsurance. In February 2015, Fairfax reported about the purchase of 100% insurance company QBE Ukraine; later, it was renamed to Colonnade Ukraine.
As of late 2017, Fairfax also owned 28.06% of Astarta Holding N.V. (Netherlands), the holding company of the agricultural holding Astarta.
AXA Insurance is the leading insurance company of Ukraine. For the first half year of 2018, it collected over UAH 915.6 mln of gross insurance premiums, which is by 14% more than the same period of 2017. The total amount of insurance premiums for this period was UAH 455 mln, which is by 17% more than in 2017.
AXA Insurance belongs to French AXA Group and has been represented on the Ukrainian insurance market since 2007. The company has over 780 employees and 1,220 agents throughout Ukraine. AXA Life Insurance is registered in July 2013.